The story of Paul R. Allen:<\/p>\n
The CEO of what had been one of the nation’s largest private mortgage lenders has been sentenced to more than three years in prison for his role in a $3 billion fraud scheme.<\/p>\n
<\/p>\n
The 40-month sentence for 55-year old Paul R. Allen of Oakton, Va., on Tuesday is slightly less than the six-year term sought by federal prosecutors.<\/p>\n
Allen was CEO at Florida-based Taylor Bean and Whitaker, whose executives pulled off one of the largest frauds in U.S. history. Among other schemes, the company double- and triple-sold mortgages to other investors, including Alabama-based Colonial Bank.<\/p><\/blockquote>\n
The story of Roy Brown:<\/p>\n
Roy Brown, 54, is a homeless man who said that he was hungry and needed a place to live when he walked the Capitol One bank in Shreveport, Louisiana in December 2007 and stole a single $100 bill. The next day, he turned himself into police, apologized, and said that he was not raised to do such things. After he pleaded guilty, the Shreveport judge then sentenced him to 15 years in prison.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
The story of Paul R. Allen: The CEO of what had been one of the nation’s largest private mortgage lenders has been sentenced to more than three years in prison for his role in a $3 billion fraud scheme.<\/p>\n","protected":false},"author":388,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[220],"tags":[],"yoast_head":"\n
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