Developments In The Wells Fargo Bank Fraud Scandal


As an expert bank fraud defense attorney in Newark, we’ve been following the recent Wells Fargo scandal very closely.

In case you’re not familiar with what happened, here’s a brief recap:

  • In early September, 2016, the Consumer Financial Protection Bureau along with other law enforcement and financial agencies accused Wells Fargo of creating millions of bank and credit card accounts without permission from the customers in whose names they were filed. The alleged offenses occurred between May 2011 and July 2015.
  • Later on in September, it came to light that the alleged bank fraud may have been the direct result of a Wells Fargo employee sales goal program that encouraged suspicious account openings and fundings to take place. It was also revealed that over five thousand low ranking Wells Fargo employees had been fired in response to the allegations, presumably an attempt to allow these employees to take the blame for bank fraud that may have been all but mandated by higher ups.
  • Most recently, the Better Business Bureau stripped Wells Fargo its approval, saying the bank had fallen below the required ‘B’ rating.

The Law Offices of Robert J. DeGroot are well-versed in the intricacies of bank fraud.

We are available to provide an experienced criminal defense for any and all individuals who may find themselves caught up in this scandal in the Newark area.

We’ll take the time to review your case carefully and personally, and will pledge to protect your rights and interests throughout every step of this bank fraud case.

Contact us for a confidential consultation today.