+24 24 0
Published 8 years ago by TNY with 2 Comments
by TNY
8 years ago 2

CEO sold millions in Wells Fargo stock before fraud revelations

Former Wells Fargo Chairman and CEO John Stumpf sold $61 million worth of Wells Fargo (WFC) shares in the month prior to settling a long-running investigation that charged the bank with falsifying millions of customer accounts to boost sales and fees. The following month, when regulators announced on Sept. 8 that they’d fined Wells Fargo $185 million for falsifying more than 2 million customer accounts to meet aggressive sales goals, the company’s stock price plunged and Stumpf was called on the carpet before Congress before finally resigning this week.

Continue Reading http://www.cbsnews.com

Join the Discussion

  • Auto Tier
  • All
  • 1
  • 2
  • 3
Post Comment
  • Appaloosa
    +4

    I hope they burn this greedy bastard.

    8 years ago
    Reply
    Save
    1 Replies
    • leweb
      +3

      Sorry, bank CEO. They're the people running the government, remember?

      8 years ago
      Reply
      Save

Here are some other snaps you may like...

discover your
interests.

Check out our front page for a lot more stuff!

Wells Fargo CEO Stumpf Quits in Fallout From Fake Accounts

Lawmakers: Wells Fargo a 'criminal enterprise' like Enron

Wells Fargo workers: I called the ethics line and was fired

Wells Fargo exec who headed phony accounts unit collected $125 million

Oracle seeks $9.3 billion for Google’s use of Java in Android