Ex-Taylor Bean Finance Chief Cops To Aiding $3B Fraud

Law360, New York (March 20, 2012, 4:11 PM EDT) -- The former chief financial officer of Taylor Bean & Whitaker Mortgage Corp. pled guilty Tuesday to aiding a $2.9 billion bank and securities fraud scheme that felled the lending giant and put several of its top executives behind bars.

Delton de Armas copped to one count each of making false statements and conspiracy to commit bank and wire fraud under a plea agreement announced last week and unsealed Tuesday in Virginia federal court. De Armas admitted to lying to investors and the government about a fraud-fueled...
To view the full article, register now.