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News for Real Estate Investors and Landlords — taylor bean

Taylor, Bean Exec Found Guilty of Bank Fraud

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Lee F. Farkas was found guilty of massive bank fraud that led to the collapse of Colonial Bank.  Click HERE to watch video.  This is my first "news video," so be sure to let me know if you like the idea of video blogs instead of reading all the time.

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Former Colonial Bank Exec to Plead Guilty

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Former Colonial Bank executive Catherine Kissick is supposed to plead guilty on March 2 to charges related to mortgage fraud.  According to reports, she assisted Taylor Bean Whittaker in selling at least $700 million of phony mortgages to Colonial Bank.  Various experts say another $500 million to $1.1 Billion worth of mortgages were sold to Colonial despite the fact TBW didn't own them any more. They'd already been sold to other investors, sometimes TWICE! Sort of explains why TBW was ready to buy a 75% share in Colonial in order to bail out the bank so it could get TARP...

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