Tag: Corruption

5,300 Wells Fargo Employees Fired For Creating Millions Of Phony Accounts

 

Well..well..well…

According to FOX 5 San Diego:

Everyone hates paying bank fees. But imagine paying fees on a ghost account you didn’t even sign up for. That’s exactly what happened to Wells Fargo customers nationwide.

On Thursday, federal regulators said Wells Fargo employees secretly created millions of unauthorized bank and credit card accounts — without their customers knowing it — since 2011.

The phony accounts earned the bank unwarranted fees and allowed Wells Fargo employees to boost their sales figures and make more money.

“Wells Fargo employees secretly opened unauthorized accounts to hit sales targets and receive bonuses,” Richard Cordray, director of the Consumer Financial Protection Bureau, said in a statement.

Wells Fargo confirmed to CNNMoney that it had fired 5,300 employees related to the shady behavior.

The scope of the scandal is shocking. An analysis conducted by a consulting firm hired by Wells Fargo concluded that bank employees opened up 1,534,280 deposit accounts that may not have been authorized, according to the CFPB.

The way it worked was that employees moved funds from customers’ existing accounts into newly-created accounts without their knowledge or consent, regulators say.

Additionally, Wells Fargo employees also submitted applications for 565,443 credit-card accounts without their knowledge or consent, the CFPB said the analysis found.

Wells Fargo is being slapped with the largest penalty since the CFPB was founded in 2011. The bank agreed to pay $185 million in fines, along with $5 million to refund customers.

“We regret and take responsibility for any instances where customers may have received a product that they did not request,” Wells Fargo said in a statement.

Wells Fargo confirmed to CNNMoney that the firings represents about 1% of its workforce.

“At Wells Fargo, when we make mistakes, we are open about it, we take responsibility, and we take action,” the bank said in a memo to employees on Thursday.

$1 Million Worth Of Weed Plants Found At Connecticut Day Care

According to KTLA — $1 million worth of a marijuana plants at a licensed day care facility in West Haven, Connecticut was found.

West Haven Police Department officers were called to a home on Norfolk Street on Friday and allegedly found 600 marijuana plants in the backyard, according to WTIC.

The street value of the plants after processing was estimated to be over $1 million.

State inspectors discovered the marijuana plants growing in the backyard of the home day care and called local police.

The day care facility was shut down by city housing inspectors, and the day care license was immediately revoked.

Next door neighbors Ivette Quiles and Frankie Torres said the couple who lived in the home kept to themselves. When they saw all the police activity, they knew something was up, but didn’t expect this.

“I saw him building something in the backyard and kind of thought it was just a regular fence,” Torres said.

The discovery had neighbors talking about what was behind that fence.

“I should have smelled that. That’s crazy. I didn’t expect that,” said another neighbor Robson Antoine. “And they have a daycare? Not good.“

Ya think?

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Disgraced Stanford Swimmer Brock Turner Registers As A Sex Offender For Raping Unconscious Girls

Brock Turner, the former Stanford University swimmer who spent three months in jail after being convicted of sexually assaulting an unconscious woman, has registered as a sex offender in Ohio.

According to Fox 5 San Diego:

Turner registered as expected in Greene County outside Dayton after being released last week from a jail in California, an official with the Greene County sheriff’s office said.

Turner is required to register as a sex offender for life, and had been expected to return to his family’s home in Greene County after his release Friday.

The 2015 assault drew national attention three months ago, when Turner was sentenced and the victim’s wrenching impact statement went viral. The brevity of Turner’s sentence — six months, with eligibility to be released after three — sparked outrage against the judge and controversy over how the justice system treats sexual assault survivors.

For those unfamiliar with Brock Turner, here is the backstory —

Authorities say Turner, now 21, sexually assaulted a woman after both attended a fraternity party near Stanford in January 2015. A Santa Clara County jury earlier this year found Turner guilty of three felony counts: assault with intent to commit rape of an intoxicated or unconscious person, penetration of an intoxicated person and penetration of an unconscious person.

In the victim impact letter she read in court before Turner’s sentencing, the woman described blacking out at the fraternity party and waking up in a hospital with pine needles in her hair, dried blood and bandages on the backs of her hands and elbows, her underwear missing.

She described finally learning what happened to her through news reports: how she was found unconscious behind a dumpster between two fraternity houses, her dress pulled over her shoulders, her bra pulled down, naked from the waist down. Two passers-by stopped when they saw Turner grinding against her unconscious body; he ran and they chased after him, pinning him to the ground until police showed up.

A prosecutor said Turner should get a six-year sentence in state prison, arguing that he lacked remorse and that his victim was especially vulnerable in her unconscious state.

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