U.S. Seeks Life Sentence for Ex-Taylor Bean Chairman Farkas
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Lee Farkas, the ex-chairman of Taylor, Bean & Whitaker Mortgage Corp., should be sentenced to life in prison for leading a $3 billion fraud involving fake mortgage assets, U.S. prosecutors told a judge in Virginia.
In a filing in Alexandria made public today, prosecutors asked U.S. District Judge Leonie Brinkema to order Farkas to prison for 385 years or no less than 50 years, “a period of years that would ensure that Farkas will remain in prison for life.” Farkas, 58, is to be sentenced June 30.