Wells Fargo Malibu Scandal Unearthed

After losing a significant amount of money to Bernard Madoff and his multi-billion dollar Ponzi scheme, a Malibu couple was forced to return their $12 million beach house to Wells Fargo. A scandal erupted, though, when it was discovered that Cheronda Guyton, a Wells Fargo senior vice president in charge of foreclosed commercial properties, had been spending weekends in the foreclosed home, throwing parties and living the high-life, all the while prohibiting the house from being sold.
 
For many, Guyton’s brazen use of a multi-million dollar foreclosed home has reignited outrage about how banks that received billions of dollars in taxpayer …read more