The former treasurer of Taylor, Bean & Whitaker (TBW), Ocala, Fla., pleaded guilty to criminal charges involving her role in selling "fictitious" mortgages to Colonial Bank, contributing to that institution's failure.

TBW's Desiree Brown pleaded guilty on Thursday to bank, wire and securities fraud, according to statement released by the Department of Justice (DOJ). She faces a maximum of 30 years in prison. Sentencing is scheduled for June 10.

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