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June 17, 2010

Former Mortgage Exec Indicted for Alleged Fraud Scheme
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The former chair of one of the nation’s largest mortgage firms has been
arrested and charged for his alleged role in a massive fraud against
investors and the US government. Lee Bentley Farkas of Taylor, Bean &
Whitaker is accused of orchestrating a $1.9 billion scheme that brought
down one of the nation’s largest regional banks, Colonial Bank in
Alabama. It’s said to be the biggest criminal case to come out of the
nation’s financial crisis.



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