SMRs and AMRs

Thursday, June 30, 2011

Who me? I didn't mean to dupe all those people...

Mortgage Executive Receives 30-Year Sentence

By BEN PROTESS
NYT

A federal judge on Thursday sentenced Lee B. Farkas, a former mortgage industry executive accused of masterminding one of the largest bank fraud schemes in history, to 30 years in prison.

The case against Mr. Farkas, the former chairman of mortgage firm Taylor, Bean & Whitaker, stands as the single biggest prosecution stemming from the financial crisis.

“I do not detect one bit of actual remorse,” Judge Leonie M. Brinkema said to Mr. Farkas in a federal courtroom in Alexandria, Va., on Thursday. “You regret getting caught.”

Mr. Farkas, wearing a green prison jumpsuit, read from a statement that said he “strived to be a good person.”

(Original here.)

1 Comments:

Blogger Tom Koch said...

I call this a good start, now to the Freddie and Fannie executives.

8:42 PM  

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