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Taylor Bean

  • Deloitte settles Taylor Bean auditing lawsuits

    At the heart of the first suit were allegations that Deloitte conducted audits of Taylor Bean in a sloppy fashion, missing mistakes that eventually caused the bank to go under.

  • BofA’s suit against FDIC thrown out

    The Federal Deposit Insurance Corp. (FDIC) can breathe a sigh of relief. On Monday, a judge tossed the suit Bank of America (BofA) filed against the FDIC over $1.7 billion in investor losses.

  • Taylor Bean CFO admits to fraud

    The failed mortgage company’s chief financial officer admitted to participating in the nearly $3 billion scheme that landed its CEO Lee Farkas in prison for 30 years and led to the collapse of the company.

  • Deloitte's key auditor defense strategy might crumble

    On Monday, news broke that accounting and consulting firm Deloitte was named in two lawsuits alleging it failed to detect fraud during a nine-year span of audits of the now-collapsed Florida mortgage company Taylor Bean & Whitaker.

  • Deloitte sued for $7.6 billion

    If the bean counters can’t count, or choose not to report what they see, who can you trust? Accounting firm Deloitte Touche Tohmatsu Ltd. is now the defendant in a pair of lawsuits alleging it failed to detect (or report) massive fraud spanning nearly a decade at a now-defunct Florida...

  • Taylor Bean exec gets 30 years in mortgage industry fraud sentencing

    Lee Farkas, former chairman of mortgage company Taylor Bean, has been sentenced to 30 years in prison for spearheading one of the largest bank fraud schemes in U.S. history.

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