Article 1T5M2 Wells Fargo fires 5,300 employees for opening 2M fake accounts in customers' names

Wells Fargo fires 5,300 employees for opening 2M fake accounts in customers' names

by
Cory Doctorow
from on (#1T5M2)

2011-11-22_Wells_Fargo_ATMs_lit_at_night

5,300 Wells Fargo employees created 2 million phony bank accounts and racked up huge fees, raking in commissions from their employer for being such great salespeople for the bank's services; meanwhile, the fees associated with the 2 million fake accounts created the appearance of much greater earnings for the bank, which it trumpeted to its investors. (more")

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