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Lee Farkas, convicted exec with Ocala’s Taylor, Bean and Whitaker, released from prison

Lee Farkas has been housed at Coleman Low, part of the Coleman prison complex in Sumter County. Photo: Joe Byrnes, WMFE

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A mortgage industry executive responsible for one of the largest fraud cases prosecuted after the U-S financial crisis a decade ago is being released from federal prison in Sumter County on compassionate grounds.

This mug shot of Lee Farkas was taken following his arrest in June 2010. Photo: MCSO

Sixty-eight-year-old Lee Farkas sought release from Coleman because he is susceptible to the coronavirus.

He has served nine years of a 30-year sentence.

Farkas was chairman of the Ocala-based mortgage giant Taylor, Bean and Whitaker [WIT-uh-ker]. He was prosecuted for a $3 billion fraud scheme.

A federal judge in Alexandria, Virginia, ordered his release on Tuesday. The judge cited his age, health problems and a COVID-19 outbreak at the prison.

Prosecutors opposed his release.

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