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Wachovia was a diversified financial services company based in Charlotte, North Carolina.Before its acquisition by Wells Fargo and Company in 2008, Wachovia was the fourth-largest bank holding company in the United States, based on total assets. [3]
Wachovia Bank may be on the hook for their role in a massive fraud. Suntasia Marketing Inc. was shut down by the Federal Trade Commission in July. They say it was a scheme that used telemarketers ...
During the 1980s and 1990s, Prudential Securities Incorporated, was investigated by the Securities and Exchange Commission (SEC) for suspected fraud. [5] During the investigation, it was found that PSI had defrauded investors of close to $8 billion, the largest fraud found by the SEC in US history to that point. [6]
On January 4, 2006, the SEC “filed securities fraud charges against McAfee, Inc., formerly known as Network Associates, Inc., a Santa Clara, California-based manufacturer and supplier of computer security and antivirus tools. McAfee consented, without admitting or denying the allegations of the complaint, to the entry of a Court order ...
Wachovia has agreed to pay $160 million, the largest-ever penalty for a Bank Secrecy Act case, and in exchange, the government will defer prosecution. Ex-Met Lenny Dykstra Sues JP Morgan for ...
Wells Fargo and its predecessor, the Charlotte-based Wachovia Bank, violated national sanctions against Iran, Syria and Sudan when it designed a program to help a European bank process $532 ...
Wells Fargo's sales culture and cross-selling strategy, and their impact on customers, were documented by the Wall Street Journal as early as 2011. [5] In 2013, a Los Angeles Times investigation revealed intense pressure on bank managers and individual bankers to produce sales against extremely aggressive and even mathematically impossible [7] quotas. [8]
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