Wells Fargo Bank in Baltimore, MD. Photo: Diego M. Radzinschi/ALM Wells Fargo Sued Over $300M Ponzi Scheme
"I come wearing a white hat," said Attorney Daniel J. Stermer, a court-appointed corporate monitor.
May 17, 2024 at 12:31 PM
4 minute read
Financial Services and Banking
Wells Fargo Bank in Baltimore, MD. Photo: Diego M. Radzinschi/ALM
One of three new lawsuits filed on May 9 in Palm Beach Circuit Court claims Wells Fargo Bank failed to prevent South Florida Ponzi scheme operators from allegedly diverting funds that eventually bilked $300 million from investors.
The victims numbered over 1,000.
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