The complaint acknowledges that the two Colonial mortgage lending employees, Catherine Kissick and Teresa Kelly, were not only aware of the Taylor Bean scheme but actually facilitated the illegal diversion of cash.
As reflected here, on March 2, 2011, Catherine Kissick, a former senior vice president of Colonial Bank and head of its Mortgage Warehouse Lending Division, pleaded guilty to conspiracy to commit bank, wire and securities fraud for participating in the Taylor Bean scheme.