May 02, 2025
A self-styled "Mother Teresa" serving a 20-year prison sentence for wire fraud conspiracy in a $194.1 million Ponzi scheme is liable for $4.1 million in connection with U.S. Securities and Exchange Commission fraud claims, though that debt is satisfied by the $186 million forfeiture order in her federal criminal case, a Florida federal judge has determined.
July 05, 2023
Attorneys for a proposed class of Wells Fargo investors will receive nearly $6.6 million after brokering a $26.6 million settlement of claims that the bank neglected to follow its own policies to stop money laundering — and thereby aided and abetted a Ponzi scheme carried out by its customers.
April 12, 2023
A trio of Florida law firms are requesting $6.6 million in fees for representing investors in a $26.6 million settlement with Wells Fargo Bank over claims that it failed to detect an alleged Ponzi scheme operated by customers.
March 21, 2023
Wells Fargo Bank NA has agreed to pay out $26.6 million to end a lawsuit alleging it failed to prevent a $200 million fraud that is the crux of a U.S. Securities and Exchange Commission lawsuit, with a Florida federal judge moving the settlement one step closer to final approval on Tuesday.
September 06, 2022
A Florida federal judge on Tuesday extended a pause on proceedings until details of a settlement are finalized in a class action suit in which Wells Fargo is accused of aiding Ponzi schemers, including one dubbed "Mother Theresa," who allegedly defrauded investors of millions.