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.
November 02, 2021
Wells Fargo has urged a Florida federal judge to throw out a proposed class action accusing the bank of aiding and abetting an alleged multimillion-dollar Ponzi scheme, saying the lawsuit fails to show that the bank had "actual knowledge" of any fraudulent scheme and cannot assert the bank facilitated it.
August 23, 2021
A group of investors in what federal authorities have alleged was a multimillion-dollar Ponzi scheme run through merchant cash advance lender MJ Capital Funding LLC have filed a proposed class action accusing Wells Fargo Bank NA of aiding and abetting the scam.