The chief financial officer of the now-defunct Taylor Bean & Whitaker (TBW) will be spending at least five years in prison for concealing the fraudulent activities of the privately held mortgage banking company.

Former CFO Delton de Armas late last week pleaded guilty to one count of conspiracy to commit bank and wire fraud, and one count of making false statements.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.