'Nonsensical' To Call Farkas Flight Risk: Attys

Law360, New York (April 25, 2011, 4:05 PM EDT) -- Attorneys for Lee Bentley Farkas, the former chairman of Taylor Bean & Whitaker Mortgage Corp. convicted last week of operating a $2.9 billion bank fraud, asked a Virginia federal court Friday to release him while he awaited sentencing.

Farkas' scheme, which started in 2002, led to the downfall of Taylor Bean, one of the largest private mortgage lenders in the U.S., and Colonial Bank, once a major institution based in Montgomery, Ala. Farkas and co-conspirators also attempted to defraud the Troubled Asset Relief Program by applying...
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