'Risky' Wells Fargo Investments Cost Insurer $40M: Suit
In a complaint filed in Minnesota federal court, the insurer and its parent Securian Financial Group Inc. allege Wells Fargo began making risky investments with collateral from Minnesota Life's investment company, Advantus Series Fund Inc., while promising it was only making safe investments.
"At some point, Wells Fargo began ignoring its promises," the complaint said. "In order to increase its own...
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