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  #1  
Old 06-30-2011, 12:43 PM
Elliott's Avatar
Elliott Elliott is offline
 
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State: Oregon
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Default Ex-Taylor Bean Chairman Sentenced to 30 Years in Prison Comments (9)



WSJ,
"A federal judge on Thursday sentenced former Taylor, Bean & Whitaker Mortgage Corp. Chairman Lee Farkas to 30 years in prison for running a multibillion-dollar fraud scheme that led to the collapse of the mortgage lender and a major bank. Mr. Farkas wore a green prison jumpsuit as Judge Leonie M. Brinkema of the U.S. District Court in Alexandria, Va., read the sentence, more than two months after a jury found the 58-year-old guilty on all 14 counts of conspiracy and bank, wire and securities fraud.
"I do not detect one bit of actual remorse," Judge Brinkema said."

http://www.marketwatch.com/story/ex-...MW_latest_news

Doc Manhattan refused comment.
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Old 06-30-2011, 01:31 PM
panappr panappr is offline
 
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Quote:
Originally Posted by Elliott View Post

Doc Manhattan refused comment.
His reply might have been something like this...... Occasionally there are instances when AMCs fall short of performing due diligence, but for the most part they are 99% effective and a necessary function. So put on your AMC cap and get some more work.
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  #3  
Old 06-30-2011, 09:21 PM
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Many more to come, I hope.
(Damn, that is one snazzy uniform he gets to wear.......)
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  #4  
Old 06-30-2011, 09:27 PM
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Lee in L.A. Lee in L.A. is offline
 
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Good for him.
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  #5  
Old 06-30-2011, 09:34 PM
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TEL2002 TEL2002 is offline
 
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Since he obviously became a wealthy man in the process, he should be required to fork over the cost of his stay. No reason the tax payers should foot this bill.

30 years with Bubba. I'm sure he will come out of this ordeal a different man.
  #6  
Old 07-01-2011, 06:42 AM
rcsone rcsone is offline
 
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State: Oklahoma
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...almost 15 or so years ago, I delivered an appraisal to these folks and was told that if I did not increase the amount, I would not do any more business with them........I shrugged and left..............but they were right, with the exception of VA after I was placed on the Panel, I never did any work for them to this day........and now I am the county assessor and he is a different locational assessor.........best to all . . . . rs

Last edited by rcsone : 07-01-2011 at 06:44 AM. Reason: words added...
  #7  
Old 07-01-2011, 07:05 AM
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Greg Parker Greg Parker is offline
 
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Quote:
Originally Posted by GCJim View Post
Many more to come, I hope.
(Damn, that is one snazzy uniform he gets to wear.......)
Photoshop Mozillos head onto that pic, and you would have a classic example of an oompa loompa.
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  #8  
Old 07-01-2011, 12:18 PM
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Mile High Trout Mile High Trout is offline
 
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Why is this case different than other ones?
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Last edited by Mile High Trout : 07-01-2011 at 01:23 PM.
  #9  
Old 07-01-2011, 12:22 PM
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"This month, Judge Brinkema handed down sentences for Mr. Farkas's co-conspirators in the scheme. Taylor Bean's former chief executive, Paul Allen, and former president, Raymond Bowman, received 40 months and 30 months in prison, respectively. Taylor Bean's former treasurer, Desiree Brown, received a six-year sentence, while Colonial Bank officials Catherine Kissick and Teresa Kelly received sentences of eight years and three months, respectively."
  #10  
Old 07-01-2011, 12:53 PM
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444nutman 444nutman is offline
 
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I did exactly one appraisal for them. It was an FHA drive-by(second appraisal). The subject was located across a two lane street from a restaurant and auto repair business. The south side of the road had the rear of business that front a 6 lane highway. The OA never mentioned it and left out 2 sales in the prior year on the same street with the same views. Those sales and sales in the prior 5 years on that street show a negative effect on value for the view.
They came back and asked me why I brought up the view when the first appraisal did not. I had pictures, county overheads and plat map which showed the view in the report. Never got another order from them.
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