Judge OKs E&Y Subpoena In Taylor Bean Fraud Suit

Law360, New York (March 11, 2011, 6:12 PM EST) -- A former Taylor Bean & Whitaker Mortgage Corp. executive charged in Virginia federal court with orchestrating a $2 billion fraud secured a subpoena Tuesday seeking documents from Ernst & Young LLP following threats to hold the accounting firm in contempt.

The new subpoena, less broad than former TBW Chairman Lee Bentley Farkas initially requested, seeks documents related to an April 2009 Ernst & Young audit report of Colonial BancGroup Inc., according to an order from Judge Leonie M. Brinkema of the U.S. District Court for the...
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