Bankrupt mortgage company CEO pleads guilty to $1.5 billion fraud scheme

[JURIST] The US Department of Justice (DOJ) [official website] announced on Friday that the former CEO of mortgage company Taylor, Bean & Whitaker (TBW) [corporate website] pleaded guilty [press release] on charges of fraud related to the Troubled Asset Relief Program (TARP) [materials; JURIST news archive]. Paul Allen pleaded guilty to making false statements and conspiring to commit bank and wire fraud for his role in a USD $1.5 billion fraud scheme that contributed to the failure of the mortgage…

By |2011-05-26T09:34:20+00:00May 26th, 2011|Uncategorized|Comments Off on Bankrupt mortgage company CEO pleads guilty to $1.5 billion fraud scheme