Week 10 Ethics Wells Fargo

Week 10 Ethics Wells Fargo - Wells Fargo Fires Exec for...

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Wells Fargo Fires Exec for Partying in Foreclosed Malibu Beach House Banker Squatted in Foreclosed Home Abandoned by Couple Swindled by Madoff By ANNE-MARIE DORNING Sept. 14, 2009 Cheronda Guyton, a Wells Fargo senior vice president has been fired from her job following reports that she was occupying a multi-million dollar Malibu beach house the bank had foreclosed on. The bank said in a statement today that Guyton was fired after an internal investigation. Wells Fargo did not specifically name Guyton, but sources have confirmed her identity to ABC News. The house in question, the bank says, ended up in their hands in May 2009 when the former owners turned it over to Wells Fargo after reportedly losing a bundle in Bernie Madoff's massive fraud. "We deeply regret the activities that have taken place as they do not reflect the conduct we expect of our team members," the bank said in the statement. "We continue to place the highest value on honesty, trust and integrity to guide our team members in making business decisions each day." This isn't the first time this year the billion-dollar San Francisco-based banking company finds itself mopping up a public relations mess. In fact, 2009 is shaping up as a corporate annus horribilis (Latin phrase when translated means, “horrible year”) for Wells Fargo -- a banking behemoth which touts
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This note was uploaded on 02/03/2011 for the course SOM 301 taught by Professor Staff during the Fall '08 term at George Mason.

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Week 10 Ethics Wells Fargo - Wells Fargo Fires Exec for...

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