Make us your home page

Taylor Bean ex-CFO latest to plead guilty in mortgage fraud

The former chief financial officer of Ocala's Taylor, Bean and Whitaker, one of the nation's largest private mortgage companies until its 2009 collapse, pleaded guilty to his role in a $3 billion fraud scheme. Delton de Armas of Carrollton, Texas, on Tuesday, became the eighth person convicted in one of the biggest fraud schemes to emerge from the nation's housing crisis.

The 41-year-old faces up to 10 years in prison after pleading guilty in federal court in Alexandria, Va., to conspiracy to commit fraud and making false statements.

Taylor Bean hid billions of dollars in debts with phony accounting and by double- and triple-selling mortgages it held to various financial institutions. Taylor Bean's collapse also helped bring down Alabama-based Colonial Bank.

Taylor Bean's former CEO, Lee Farkas, the government's biggest criminal conviction of the financial crisis, is now serving a 30-year prison sentence. He is seeking a retrial.

Taylor Bean ex-CFO latest to plead guilty in mortgage fraud 03/20/12 [Last modified: Tuesday, March 20, 2012 8:35pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Allegiant Air reports $400 million in revenue for second quarter

    Allegiant Air CEO Maurice J. Gallagher Jr. | [Courtesy of Tony Jannus Aviation Society]
  2. As Dow hits new high, Raymond James Financial reports record financial gains


    On the same day that the Dow closed at new highs, investment firm Raymond James Financial reported record revenues and earnings for its fiscal third quarter that ended June 30.

    Raymond James Financial CEO Paul Reilly unveiled record quarterly revenues and earnings for the St. Petersburg-based investment firm. [Courtesy of Raymond James Financial]
  3. Florida GDP growth in first quarter 2017 ranks 21st among states, still outpacing U.S.

    Economic Development

    Florida's gross domestic product or GDP rose 1.4 percent in the first quarter, slightly faster than the nation's growth of 1.2 percent and placing Florida 21st among the states for growth rates, according to the U.S. Bureau of Economic Analysis.

    Not too hot. Not too cold.

    These Jackson Square Townhomes began hitting the west Hillsborough County market late last year and continued to be sold into the first quarter of 2017. The real estate sector was the biggest driver of Florida's gross domestic product, which rose 1.4 percent in the first quartrer of 2017.  [JAMES BORCHUCK   |   Times]
  4. A new app will help you find your favorite Tampa Bay food trucks

    Food & Dining

    What's new: Food tech

    Local food businesses are embracing new technologies and partnerships to bring us extra deliciousness.

    Michael Blasco of Tampa Bay Food Trucks says that everyone always asked about an app to help find their favorite food trucks. There is, available for iPhones and Droids.
  5. Another Pinellas foreclosure auction fools bidders, raises questions

    Real Estate

    For the second time in six weeks, a company connected to lawyer Roy C. Skelton stood poised to profit from a Pinellas County foreclosure auction that confused even experienced real estate investors.

    A Palm Harbor company bid  $112,300 for  this Largo townhome at a foreclosure auction July 21 not realizing the auction involved a second mortgage, connected to lawyer and  real estate investor Roy Skelton -- and that the bank could still foreclose on the  first mortgage.