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The Taylor, Bean & Whitaker investigation spawned
guilty plea number five on Friday. Paul Allen, the former CEO of the collapsed
firm, pleaded guilty to conspiracy to commit bank and wire fraud and making
false statements. U.S. v. Allen (E.D. Va...
The collapse of Taylor, Bean & Whitaker, which
tumbled Colonial Bank into liquidation, is one of the few market crisis
investigations to yield multiple criminal indictments and SEC enforcement
actions. Taylor Bean was one of the largest privately...
The Justice Department is celebrating this week after
finally landing a major criminal conviction in the aftermath of the mortgage
meltdown. The Justice Department was able to stick 14 counts of fraud and
conspiracy on Lee Farkas in what is reported...