At the business administration, Ms. White's job focused on victims of the two big 1960's hurricanes who defaulted on their disaster home loans decades later.

Mr. Ebbers later defaulted on the loans, which eventually totaled more than $400 million.

They defaulted on the bonds a year later.

Mr. Vaughan later defaulted on the note.

After buying his mansion in September 2004 for $3.1m (£1.9m) he later defaulted on the loan and the mortgage company began foreclosure proceedings against him.

Officials say he is selling the lots under threat of a sheriff's auction, after having posted them as collateral for a loan on which he later defaulted.

When the loans later defaulted, the officials said, the Government was left responsible for bloated mortgages.

Mr. Keating achieved even more notoriety because he had sold millions of dollars of bonds, which later defaulted, to his own depositors.

He later defaulted on the debts.

An electrical contractor also defaulted later in the project, setting construction back about four additional months, Mr. Natoli said.