California and federal regulators fined Wells Fargo a total of $185 million because the bank’s employees illegally opened millions of unauthorized accounts for their customers in order to meet aggressive sales goals. A staggering 5,300 employees at Wells Fargo were fired in connection with this illegal behavior.
No one’s money is safe at Wells Fargo. One of my most famous cases involved a Wells Fargo broker who stole from customers in California and was sentenced to federal prison. That case involving broker Philip Horn was featured on the front page of The New York Times.