Federal prosecutors say Lee Farkas should spend the rest of his life behind bars because the former chairman of mortgage lender Taylor, Bean & Whitaker Mortgage Corp. continues to deny responsibility for the devastation he wrought as the mastermind of a multibillion-dollar “fraud of staggering proportions.” Read the Daily Bankruptcy Review story here.
A judge on Wednesday gave Borders Group Inc. the go-ahead on an aggressive schedule that the bookseller hopes will result in a bidder for its remaining assets emerging by July 1 and a transaction closing by the end of July, as the bookseller looks to keep at least some of its remaining locations in business. Read the Daily Bankruptcy Review story here.
