Federal prosecutors are targeting tens of millions of dollars in cash and property allegedly tied to the former chairman of Taylor, Bean & Whitaker, one of the country’s largest privately held mortgage lending companies, who was indicted this week on fraud charges.

Justice Department officials announced Wednesday that Lee Farkas, the former TBW chairman, has been charged in a 16-count indictment in the U.S. District Court for the Eastern District of Virginia for allegedly orchestrating a $1.9 billion fraud scheme that contributed to the collapse of Colonial Bank. Farkas was arrested Tuesday night in Ocala, Fla.

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