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...
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