DOJ Seeks 7 Years For Taylor Bean CFO In Fraud Scheme

Law360, New York (June 11, 2012, 6:24 PM EDT) -- The U.S. Department of Justice on Friday urged a Virginia federal judge to hand a former Taylor Bean & Whitaker Mortgage Corp. executive a seven-year prison sentence and order him to pay part of $2.6 billion in restitution for a fraud scheme that felled the lending giant.

Former Taylor Bean Chief Financial Officer Delton de Armas needs to be held responsible for his role in the banking and securities fraud scheme, the DOJ argued in sentencing and restitution memos filed with U.S. District Judge Leonie M....
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