Wire Fraud

VP of defunct mortgage lender TBW pleads guilty 

Raymond Bowman, the former vice president and director of secondary marketing at Taylor, Bean & Whitaker, pleaded guilty this week to taking part in a scheme that ultimately led to nearly $2 billion in losses and the failure of Alabama-based Colonial Bank. Bowman pleaded guilty in the U.S. District Court for the Eastern District of Virginia on Monday to one count of conspiracy to commit bank, securities and wire fraud and one count of making false statements.