(Jew) Lee Farkas Convicted In $3 Billion Mortgage Fraud Case

[CrackSmokeRepublican]

 Lee Farkas    Convicted In $3 Billion Mortgage Fraud Case

By MATTHEW BARAKAT   04/19/11 05:31 PM ET   AP

ALEXANDRIA, Va. -- A jury has convicted the majority owner of what had been one of the nation's largest mortgage companies on all 14 counts in a $3 billion fraud trial that officials have said is one of the most significant prosecutions to arise from the nation's financial crisis.

The jury returned its verdict late Tuesday after more than a full day of deliberations.

Prosecutors said Lee Farkas led a fraud scheme of staggering proportions as chairman of Florida-based Taylor Bean & Whitaker. The fraud not only caused the company's 2009 collapse and the loss of jobs for its 2,000 workers, but also contributed to the collapse of Alabama-based Colonial Bank, the sixth-largest bank failure in U.S. history.

Farkas testified in his own defense at the trial and claimed he did nothing wrong.

http://www.huffingtonpost.com/2011/04/1 ... 51289.html

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Thursday, June 17, 2010
towleroad.com,
GAY MORTGAGE CEO LEE FARKAS INDICTED IN BILLION-DOLLAR FRAUD SCHEME

Lee Farkas, the CEO of a major mortgage lender which failed last year, was indicted this week in a multi-billion dollar fraud scheme tied to the Wall Street bailout program and the failure last year of Colonial Bank.

ABC News reports: "The total losses for the Federal Deposit Insurance Corp. that stemmed from fall of Colonial, one of the country's 50 largest banks in 2009, could exceed $3 billion, Washington officials said. Lee Farkas, chairman of Taylor, Bean and Whitaker Mortgage Corp., allegedly defrauded Colonial by selling it more than $1.5 billion in fake or fraudulent mortgage loans. Farkas was indicted in a 16-count indictment for overseeing a seven-year fraud that hid massive accounting losses at Taylor, Bean and Whitaker."

A Towleroad reader informs us that Farkas is gay and he and his partner Sean Murla owned a house in Key West for several years and were active in Equality Florida.


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Thursday, April 21, 2011
FARKAS, THE ROTTEN JEW



The Jew head of a company that was once one of the largest US mortgage lenders has been convicted of fraud.

Talmud Jew, Lee Farkas, ex-chairman of Taylor, Bean and Whitaker, was found guilty on all 14 counts he faced.

The company's 2009 collapse caused the loss of 2,000 jobs and the failure of Colonial Bank, the sixth-biggest bank failure in US history.

Prosecutors said Colonial and two other banks were cheated out of $2.9bn (£1.78bn).

Jew-Farkas was convicted by a federal jury in Virginia of bank fraud, wire fraud, securities fraud and other counts.

His shockingly brazen scheme poured fuel on the fire of the financial crisis.

http://news-cottage-two.blogspot.com/20 ... n-jew.html