Former chair of Taylor, Bean & Whitaker sentenced to 30 years


Lee Farkas, former chair of Taylor, Bean & Whitaker (TBW), has been sentenced to 30 years in prison and ordered to forfeit $38.5 million. Farkas was found guilty in April this year of 14 counts of conspiracy to commit bank, wire and securities fraud and also substantive counts of bank, wire and securities fraud.

Farkas was found guilty of stealing more than $38 million for personal gain from TBW and Colonial Bank. He used the stolen money to buy a jet, expensive antique and collector cars and

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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