4th Circ. Affirms SEC Ban For Ex-Taylor Bean Chairman

Law360, Los Angeles (February 11, 2014, 5:50 PM EST) -- A Fourth Circuit panel on Tuesday rejected former Taylor Bean & Whitaker Mortgage Corp. Chairman Lee Bentley Farkas’ attempts to overturn a U.S. Securities and Exchange Commission injunction barring him from managing mortgage-related companies, ruling Farkas’ criminal conviction justified the injunction under collateral estoppel.

In an unpublished, per curiam decision, the panel dismissed Farkas’ objections to a district court decision that granted the SEC’s injunction based on Farkas’ conviction. Farkas argued that his criminal jury was improperly instructed on the definition of “security,” and that the...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities and Exchange Comm. v. Lee Farkas


Case Number

13-1757

Court

Appellate - 4th Circuit

Nature of Suit

1850 Securities, Commodities, Exchange

Date Filed

June 12, 2013

Companies

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.