Make No Mistake, the Business Model Is Fraud

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Make No Mistake, the Business Model Is Fraud

Make No Mistake, the Business Model Is Fraud

Esquire-

At this point, if you told me that Wells Fargo was running dope out of Marseilles, and responsible for the unsolved murder of Roger Rabbit, I’d probably believe you. Seriously, this latest malfeasance alleged against the company, as reported by The Wall Street Journal and relayed to the shebeen via The New York Daily News, is further proof that this particular respected financial institution is about three fedoras short of being the Gambino family.

The bank overcharged their corporate clients on foreign exchanges and levied hefty transactions fees through ingrained practices that rewarded employees for raking in the cash, according to a Wall Street Journal report. If the companies questioned why the foreign exchange rates were higher than the ones they were initially offered by the bank, employees would simply chalk it up to the “time fluctuation,” saying the market rate changed by the time the transaction was executed, one former manager said. Companies were also charged unusually high fees for currency conversions — which employees blamed on the bank’s “automated” computer system.

Oh, come on. This is what a middle-schooler tells the teacher when a term paper is late.

[ESQUIRE]

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