Wells Fargo Exec Fired After Malibu House Controversy

2009-09-16 03:00:59 (GMT) (WiredPRNews.com - Business, News)

A Wells Fargo executive has been fired for hosting parties at a bank owned foreclosed home.

A senior vice president of the company has been fired after using a foreclosed house to host extravagant parties.

Press Release Service – Wired PR News – A senior vice president of Wells Fargo & Co. has been fired after reportedly holding extravagant parties at a bank owned foreclosed home in Malibu. As reported by Reuters, the employee, Cheronda Guyton, was fired following an investigation into claims about her violating company policy in using the multi-million dollar foreclosed home of a couple who lost a significant amount of money in Bernard Madoff’s ponzi scheme.

Sandra Chrystal, a University of Southern California business ethics and communications teacher, is quoted in the report as stating of the firing, “If anything the corporate culture is now more sensitive to issues like this because of the financial problems and impression that anyone in the financial industry is wealthy or having a good time at the expense of the common public.”

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