Taylor, Bean & Whitaker Mortgage Corp.'s unsecured creditors are suing the failed lender's former leader and other company insiders to recover about $30 million in loans.
The committee representing Taylor Bean's unsecured creditors filed five lawsuits Wednesday in U.S. Bankruptcy Court in Jacksonville, Fla., accusing borrowers of defaulting on notes issued to Taylor Bean in 2003 and 2008. The suits target various company insiders, including Lee Farkas, who owned Taylor Bean and built it up into a major lender until its collapse last August. The other targets include Farkas' colleague Coda Roberson 3rd.
Attorneys for Farkas and Roberson could not immediately be reached for comment Thursday.