Taylor Bean & Whitaker Mortgage Corp.’s ex-Chairman Lee Farkas lost a bid to overturn a lifelong ban on securities industry employment imposed after he was convicted of orchestrating a $3 billion scheme prosecutors said was among the biggest bank frauds recorded in the U.S.
Charles Duross, who secured almost $2 billion in corporate penalties as the head of the U.S. Justice Department unit devoted to pursuing foreign bribery cases, has left the government to join Morrison & Foerster LLP in Washington.
The case against Lee Farkas , the ex-chairman of Taylor, Bean & Whitaker Mortgage Corp. and accused mastermind in a “stunning” mortgage fraud, ended with prosecutors saying he stole millions of dollars out of greed and his lawyer saying Farkas is innocent while others made mistakes.
Lee Farkas , the former chairman of Taylor, Bean & Whitaker Mortgage Corp., was accused by the U.S. of helping run a more than $1.9 billion fraud scheme that unsuccessfully attempted to steal money from the government’s Troubled Asset Relief Program.
Paul Ceglia, who claims half the holdings of Facebook Inc. co-founder Mark Zuckerberg, must produce originals of the contract and e-mails that he says prove his case, a judge ordered at the request of the company.
The former chief executive officer of Taylor, Bean & Whitaker Mortgage Corp., Paul R. Allen, admitted to his role in what prosecutors say was a $1.9 billion fraud that included attempts to deceive the federal bank bailout program.
Taylor, Bean & Whitaker Mortgage Corp.’s former finance chief was sentenced to five years prison for helping his boss, Lee Farkas, commit what prosecutors say was one of the largest bank frauds in U.S. history, according to U.S. Attorney Neil MacBride.
A day after a jury heard recordings of Galleon Group LLC co-founder Raj Rajaratnam thanking Danielle Chiesi for a stock tip, a government agent testified about Rajaratnam’s phone calls, trading dates and stock profits.