The securities and exchange commission on friday charged former wells fargo ceo john stumpf and a top lieutenant with misleading investors about the success of the. Investment products and services are offered through wells fargo advisors. Wells fargo advisors is a trade name used by wells fargo clearing services, llc (wfcs) and wells fargo. A year after regulators fined wells fargo $185 million for opening potentially millions of fake accounts, the bank is nowhere close to putting the scandal behind it. Less than a week after wells fargo was slapped with a historic $185 million fine to settle customer fraud allegations, ceo john stumpf is starting to open up about the scandal.
An outside review that examined a longer timeframe uncovered another 1. 4 million potentially fake. She is still fighting the occ, but her old boss, former wells fargo ceo john stumpf, tossed in the towel. He agreed to a $17. 5 million fine and a lifetime ban from the. David julian, the bank's former chief auditor and paul mclinko, its former executive audit director, were fined $7 million and $1. 5 million, respectively. The trio had been previously.
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