Tuesday, May 18, 2010
PATRICK FITZGERALD, The Wall Street Journal,
PATRICK FITZGERALD, The Wall Street Journal,
Taylor Bean Says Farkas Withdrew $50 Million for ‘Personal Benefit’
Former Taylor Bean & Whitaker Mortgage Corp. Chairman Lee Farkas allegedly siphoned more than $50 million from the Florida mortgage lender for his own "personal financial gain," according to a bankruptcy court filing.
Taylor Bean said Mr. Farkas, the Florida businessman who built Taylor Bean from a small mortgage company into the nation's largest mortgage lender not owned by a bank, "withdrew substantial sums of money from TBW for his own personal benefit or for the benefit of business ventures that he owns or controls."
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Posted by Tracey on 05/18/10 at 03:29 PM •
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