Ex-Taylor Bean Exec To Plead Guilty In $3B Fraud

Law360, New York (March 14, 2012, 6:14 PM EDT) -- Taylor Bean & Whitaker Mortgage Corp.'s ex-finance chief is expected to plead guilty after the bankrupt lender’s former chairman received a $3.5 billion restitution order for his $2.9 billion bank and securities fraud scheme with other executives, according to Virginia federal court filings Wednesday.

Former Chief Financial Officer Delton De'Armas is scheduled to attend a plea agreement hearing March 20, according to a filing, which did not include details of the charges against him. A spokesman for the U.S. Attorney’s Office for Virginia’s Eastern District on...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.