California launches criminal probe into Wells Fargo account scandal

[progree]

Source: Reuters

The California Attorney General's Office has launched a criminal investigation into Wells Fargo <WFC.N> over allegations it opened millions of unauthorized customer accounts and credit cards, according to a seizure warrant seen by Reuters.

Attorney General Kamala Harris authorized a seizure warrant against the bank that seeks customer records and other documents, saying there is probable cause to believe the bank committed felonies.

The probe marks the latest setback for the bank in a growing scandal that led to the abrupt retirement of its chief executive officer, monetary penalties, compensation clawbacks, lost business and damage to its reputation.

<snip>

The seizure warrants by the state are seeking a variety of documents from Wells Fargo, including a list of all unauthorized California customer accounts created between May 2011 and July 2015. ... and the identity of all Wells Fargo employees that may have opened the accounts.

Read more: http://finance.yahoo.com/news/california-launches-criminal-probe-wells-fargo-account-scandal-212145940--sector.html

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I hope something really bad happens to Wells Fuckgo and particularly the high up executives responsible.

[elmac]

1. Good!

Tired of these banksters getting away with this stuff, jail time is the only way you will stop this criminality.

[cstanleytech]

2. Agreed, considering the sheer number of people involved in this upper management had to have been

aware of it.

[freebrew]

6. Aware of it?...

from the testimony, it sounds more like they instigated and supported it.

So, the workers got fired for following orders and the bosses thought they could slide.

Go get 'em California.

[Auggie]

3. Go get 'em Senator Harris ...

Oops, I mean, soon-to-be Senator Harris

[The Green Manalishi]

4. I was about to post the exact same thing.

[lonestarnot]

5. Took long enough.