When you look at the list of people that Wells Fargo stole from -- ordinary depositors, struggling mortgage borrowers, 800,000 car loan borrowers, mom and pop businesses, medium businesses and home owners -- a commonality emerges: they're all poor people, or middle-class people, or slightly rich people.
But now it appears that Wells Fargo was also dumb enough to steal from the very rich, through its Wealth Management unit. We don't know exactly what kind of shenanigans they got up to, but the DoJ has started to question employees in the unit, and we can expect to know more shortly.
The report said the FBI has interviewed some employees in the Phoenix area as the Justice Department and Securities and Exchange Commission expand the scope of an investigation into sales practices beyond Wells Fargo's retail division.
Wells Fargo wealth management employees questioned by federal agents: WSJ [Liz Moyer/CNBC]
Wells Fargo defrauded 800,000 car loan borrowers, forcing 274,000 of them into bankruptcy and stealing ("wrongfully repossessing") 25,000 cars; they also ripped off mortgage borrowers by failing to send them their paperwork until after the deadline for filing it and then fining them for not filing it on time.
Since its launch in 1999, Neopets has enjoyed a pretty colorful history. The game offers users the ability to create a virtual pet to take on adventures and, using virtual and real-world currency, feed and trick out their digital pets with swag, homes and other online sundries. It was originally aimed at kids, but grew […]
Where is Facebook located? Well, if you're the taxman, Facebook's global HQ is a tiny shed somewhere in Ireland, where Facebook can escape virtually all taxation; but on the other hand, if you're the EU, Facebook is headquartered in America, where the General Data Protection Regulation doesn't apply.
You probably remember the Twisty Glass Blunt since we love to write about it. And you may also remember its little buddy, the Twisty Glass Mini. Well, today we’ve got a fun surprise that isn’t so little. Less isn’t always more, and on those days when you need to decompress with a good smoke, the Twisty XL […]
Another year, another iteration of Samsung’s Galaxy smartphone—except this time around Samsung sought to redefine what a smartphone can do completely. Boasting a 6.2″ Quad HD+ Super AMOLED (2960×1440) infinity display, and an elite 10nm 64-bit Octa-Core Processor with 6GB RAM, the S9+ is an absolute powerhouse with a price tag to match. However, you […]
Competition in the job market is getting stiff, and while experience and a four-year degree can put you on the map, most employers prefer applicants versed in the tools that power their industry. To this end, certifying your skills with Salesforce is a smart move. The world’s #1 Customer Relationship Management (CRM) platform, Salesforce is […]