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.
“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.”
We’ve been almost a year moving Mother’s various accounts, checking, savings, retirement, money market, CDs, 401Ks etc. from Wells Fargo to her new credit union. And we’ve still got more to move.
The final straw for Mother was when she bought my niece a Wachovia gift card last summer to use for a new computer for school. As it turned out, I found the same computer in stock at Amazon for about $300 less than the Apple Store which was back-ordered. So we ordered the computer on Mother’s credit card and took the gift card back to Wachovia only to be told they would charge her a fee to deposit the Wachovia issued gift card into a single account where Mother has over $40,000. Mother had been a Wachovia customer for over 60 years.
Funny this is: My brothers and I had been trying for years to get her to leave Wachovia but she refused until then.
The sad part of all this is that if you are hungry and steal a steak you go to jail but if you are a bank and do same, well its part of doing business and pay a fine for stealing millions.
What a system we have.
A man with a briefcase can steal more money than a man with a gun.
This comment suggests that like me you have been around for a while and have read some Mario Puzo.