Wells Fargo Whistleblower
I’m pleased to announce that George Hartzman, local blogger and Wells Fargo employee, has officially filed a whistleblower complaint with the NC Securities Division accusing the CEO of violating Sarbanes Oxley by signing fraudulent financial statements. I am concerned for his professional and personal well-being as a result.
The implications of George’s complaint are quite profound as all of the TBTF banks have probably violated Sarbanes Oxley. Additionally, culpability for failure to uphold fiduciary responsibility falls on thousands of brokers and money managers. The CPAs who audited and signed off on fraudulent financials have also violated legal standards under which they operate. So far, his employer and the press have chosen to ignore the complaint.
Here’s the story of the last Wells Fargo whistleblower.
Meanwhile, Wells Fargo has closed the checking account of a blogger who posted material criticizing the bank.
The Wife’s checking account was incredibly fouled up in the transfer from Wachovia to Wells Fargo. After months of confusion, she has finally moved her money to a local bank. One of the lessons she learned is you need to have a lot of money in order to leave as the old bank unnecessarily ties up funds.