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The U.S. Court of Appeals for the Fourth Circuit has affirmed a district court ruling that an insurance company was entitled to recoup nearly $1 million in defense costs paid on behalf of Lee Bentley Farkas, the former chief executive officer of mortgage lender Taylor, Bean & Whitaker (“TBW”), who had been convicted for his role in a massive fraud that contributed to the failure of TBW and Colonial Bank. 

The Case 

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