Wells Fargo Settles Ponzi-Related Lawsuit for $105M

, The National Law Journal


Wells Fargo Bank N.A. has agreed to pay $105 million to settle investor claims related to its work with defunct Medical Capital Holdings Inc., a purported medical receivables purchasing company in California that was later revealed to be a $1 billion Ponzi scheme.

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What's being said

  • Yuan Savvy

    Since Norwest Bank of Minnesota take over of the Wells Fargo Bank in later 90's the new management has continually engaged in illegal activities like this and has paid settled for pennies on the Dollar. No doubt they will continue the winning criminal strategy!

  • John Rudisill

    Who got the yacht, and what was it's name? The StethoStage?"

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