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.