SEC charges Wells Fargo banker, nine others in insider-trading case

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SEC charges Wells Fargo banker, nine others in insider-trading case

SEC charges Wells Fargo banker, nine others in insider-trading case

When is enough really enough? What other corporations get these many chances?

Reuters-

U.S. securities regulators on Wednesday charged a Wells Fargo investment banker and nine others for their alleged role in an insider-trading ring that earned more than $11 million by trading on tips about impending mergers.

The Securities and Exchange Commission said that John Femenia, 30, misused his position at a unit of Wells Fargo to obtain material, non-public information about four different mergers involving firm clients.

[REUTERS]

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One Response to “SEC charges Wells Fargo banker, nine others in insider-trading case”

  1. Charles Reed says:

    One more example of the criminal culture at Wells Fargo Bank. Just from Nov 2009 staring in the $1.4 billion auction-rate securities settlements, over-time settlement, steering fine from Fed, robo signing $4.5 billion settlement, racial steering settlement and now this plus to come is the billion dollar crime where Wells Fargo Bank has defrauded the Federal Government out of billions claiming that they are the “holder in due course” of 1.3 million government insured loans.

    The OCC and Fed already identified 800,000 HAMP application that were not modified but instead foreclosed. Now let ask if loan that should have been modified and were instead foreclosed is what if not criminally stolen?

    It going to go down and what there waiting on is what?

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