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Resource ID: #16251
Subject: Fraud
Source: WKYT-TV (Lexington, Ky.)
Affiliation: 
Date: January 1999-July 1999

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Description

A WKYT-TV investigation of Kentucky-area home builder Steve Taulbee revealed that he was continuing to build homes despite a series of lawsuits filed against him by at least four banks. "An analysis of the lawsuits found that in a lot of cases banks were just lax in checking liens prior to granting Taulbee loans. In some cases, properties were mortgaged for two to three times their value, In other cases, the homes were only built on paper..."

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