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... Read More

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... Read More

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... Read More