Businessman indicted on charge of conspiring to file false information in TARP case

Grand jury indicts businessman in TARP case

WASHINGTON — A federal grand jury has indicted the chief executive of one of the largest privately held mortgage lending companies in the country for allegedly conspiring to file false information when applying for funds from the Troubled Assets Relief Program.

The indictment in Virginia alleges that Lee Bentley Farkas and co-conspirators caused ColonialBancGroup to submit the false information to the Federal Deposit Insurance Corp. and to the Securities and Exchange Commission.

Farkas was the chief executive of Taylor, Bean & Whitaker Corp. of Ocala, Fla.

Besides conspiracy, the indictment charges Farkas with bank fraud, wire fraud and securities fraud.