North Texas investor takes on Wells Fargo over $34.8 million trade that went bad

[TexasTowelie]

Lacy Harber is mad as hell at Wells Fargo and he's not going to take it anymore.

The 80-year-old entrepreneur and philanthropist from Denison is expressing his wrath about the San Francisco-based banking giant and its national retail brokerage in a full-page ad running in four newspapers Thursday, including The Dallas Morning News.

The ad calls for the Senate Banking and House Financial Services committees to broaden their investigations to include the activities of Wells Fargo Advisors. It is also running in The New York Times, San Francisco Chronicle and The Charlotte Observer at a total cost of more $250,000, his attorney says.

Harber is angry about dealings with the Wells Fargo subsidiary that he says caused him to lose nearly $6 million.

Read more: http://www.dallasnews.com/business/stock-market/2016/10/05/north-texas-investor-takes-wells-fargo-348-million-trade-went-bad

[napi21]

1. WHY would a wealthy entrepreneur go the a Bank Broker? Heck, I don't even think much of them

and I don't even have 1/2 a mil. IMO the BEST brokers work for the big brokerage firms, NOT some bank.

I'd also be surprised if that broker actually broke any laws.