U.S. Attorney Neil MacBride said that Taylor, Bean & Whitaker Mortgage Corp.'s former finance chief was sentenced to five years prison for helping his boss, Lee Farkas, commit what prosecutors say was one of the largest bank frauds in U.S. history, Bloomberg News reported on Friday. Delton de Armas, 41, was sentenced today by U.S. District Judge Leonie Brinkema after pleading guilty on March 20 to one count of conspiracy to commit bank and wire fraud and one count of making false statements. De Armas admitted he participated in a scheme that contributed to the failures of Montgomery, Ala.-based Colonial Bank and its parent, Colonial BancGroup, once among the nation's 25 biggest depository banks.
