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Former boss of US lender accused of $1.9bn fraud

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posted on Jun, 16 2010 @ 06:44 PM
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Former boss of US lender accused of $1.9bn fraud


news.bbc.co.uk

The former boss of the now bankrupt US lender Taylor, Bean & Whitaker (TBW) has been charged with 16 counts of fraud, worth more than $1.9bn (£1.3bn).
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Mr Farkas is charged with conspiracy, bank fraud, wire fraud and securities fraud.
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the fraud scheme contributed to the failures of Colonial Bank and TBW.
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Officials estimate that Mr Farkas personally gained "at least $20m" from these activities but "it's ongoing".
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It is believed that the co-conspirators are made up of "some at TBW and some at Colonial".
(visit the link for the full news article)




posted on Jun, 16 2010 @ 06:44 PM
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It seems more heads are about to roll... Its nice to see the banker man held to court for once. This country needs more banking oversight.

Check here too:

MAY 18, 2010
Taylor Bean Says Farkas Withdrew $50 Million for 'Personal Benefit' online.wsj.com...

SEPTEMBER 5, 2009
Failed Illinois Bank Has Ties to Fallen Mortgage Executive
online.wsj.com...


news.bbc.co.uk
(visit the link for the full news article)



posted on Jun, 16 2010 @ 07:19 PM
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This is just business as usual.

This crap happens everyday.

It just goes to show Thomas Jefferson was on the ball when it came to central bankers and banks.

"I fear a central banking system more then a standing army, for the army can be defeated." Thomas Jefferson.

Usury is a Mother F#$er



posted on Jun, 16 2010 @ 07:40 PM
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very disturbing

sooner or later maybe wikileaks can
infiltrate the Fed and get some of those
papers to put them away too.

hopefully

sooner or later this has to lead
to the Fed Reserve.



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