Mortgage company executive arrested in $1.9-billion fraud case
Wednesday, June 16, 2010 - 16:30
in Mathematics & Economics
Lee Bentley Farkas, 57, former chairman of Florida-based TBW, was charged with bank, wire and securities fraud after allegedly trying to defraud the TARP bailout fund. In one of the most significant criminal cases to emerge from the housing market collapse, federal authorities charged a former private mortgage company executive in connection with a $1.9-billion fraud scheme that helped topple his firm and...