In The News
Mortgage Loan Compliance | Taylor, Bean & Whitaker Employee Theft
September 3, 2009 by sueyourlender · Leave a Comment
Victor Cedeno was a loss mitigation negotiator in the loan resolution management department at the Ocala, Fla.-based company Taylor, Bean & Whitaker. A spokesman for the U.S. Attorney office said Mr. Cedeno is being sought by authorities.
Cedeno, a former employee at the now defunct Taylor, Bean & Whitaker faces charges he allegedly stole more than $1.6 million from the company by depositing the funds into accounts he controlled at Navy FCU of Virginia.
The scheme allegedly began on July 16, 2008, when Mr. Cedeno opened an account at Navy Fed’s branch in Winter Park under the name, “Tailor Bean W.” The name “Tailor Whitaker” was listed as primary account holder.
Cedeno allegedly deposited checks made out to Taylor, Bean & Whitaker into this account from July 17, 2008, until as recently as Aug. 10, 2009 according to a criminal complaint filed by the U.S. Attorney’s office.
A total of 58 checks worth $1.6 million were allegedly funneled into the “Tailor Bean W.” account.
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