U.S. Justice Department targets executives in Wells Fargo probe

Now that is a joke..

A U.S. Justice Department probe into a phony accounts scandal at Wells Fargo & Co is asking whether executives hid details from the company board and regulators as the problem grew over years, sources familiar with the review said.

The move carries into the Trump era an investigation started under the Obama administration, and could result in criminal charges against bank employees involved.

The Justice Department this week was due to interview federal bank examiners in Charlotte, North Carolina, and ask whether low-level employees broke the law by opening accounts without customer knowledge and if company executives took part in a conspiracy. A grand jury convened in the Northern District of California has also sent subpoenas to witnesses, including former Wells Fargo employees, the sources said.

Read on.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s