community stories for southern Nevada

Wells Fargo Exec throws parties in foreclosed Malibu mansion

Nothing like a story like this to spark more populist anger at banks:

Bernard L. Madoff’s massive fraud stunned some of the wealthy denizens of Malibu Colony, especially when a couple devastated by the scheme surrendered their oceanfront home to Wells Fargo Bank.

But some neighbors say the real shocker came when they saw one of the bank’s top executives spending weekends in the $12-million beach house and hosting eye-catching parties there. 

wells fargo

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