IN THE UNITED STATES DISTRICT COURT FOR THEEASTERN DISTRICT OF VIRGINIAAlexandria Division)UNITED STATES OF AMERICA )) Case No. 1:10CR200v. )) Honorable Leonie M. BrinkemaLEE BENTLEY FARKAS, )) Sentencing Date: June 30, 2011Defendant. )
POSITION OF THE UNITED STATESWITH RESPECT TO SENTENCING
The United States of America, through its attorneys, Denis J. McInerney, Chief, FraudSection of the Criminal Division of the United States Department of Justice, Patrick F. Stokes,Deputy Chief, and Robert A. Zink, Trial Attorney, and Neil H. MacBride, United States Attorneyfor the Eastern District of Virginia, Charles F. Connolly and Paul J. Nathanson, Assistant UnitedStates Attorneys, in accord with 18 U.S.C. § 3553(a) and the United States SentencingCommission, Guidelines Manual (“Guidelines” or “U.S.S.G.”) § 6A1.2 (Nov. 2010), files thisPosition of the United States With Respect to Sentencing of the defendant, Lee Bentley Farkas.
From 2002 to August 2009 Farkas orchestrated a fraud of staggering proportions – one of the largest bank fraud schemes in this country’s history – through his company, Taylor, Bean &Whitaker Mortgage Corp. (“TBW”). Farkas spearheaded the sale of more than $1.5 billion infake mortgage assets to Colonial Bank, ultimately leaving a deficit of more than $500 million inits Assignment of Trade (“AOT”) financing facility. He directed the misappropriation of morethan $1.5 billion from Ocala Funding, a commercial-paper vehicle set up by TBW to finance
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