Former Colonial Bank Mortgage Lending Supervisor Pleads Guilty to Fraud Scheme

WASHINGTON, DC – March 16, 2011 – (RealEstateRama) — Teresa Kelly, a former operations supervisor in Colonial Bank’s Mortgage Warehouse Lending Division (MWLD), pleaded guilty today to conspiring to commit bank, wire and securities fraud for her role in a fraud scheme that contributed to the failures of Colonial Bank and Taylor, Bean & Whitaker (TBW).