Tech & Biz

Wells Fargo Malibu Scandal: Cheronda Guyton Fired

by Scott Wu | September 14, 2009 at 03:17 pm

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Wells Fargo fired Cheronda Guyton, the senior executive who partied at the foreclosed Malibu house. The house was previously owned by a couple suffered massive loss due to Bernie Madoff's Ponzi Scheme, and they were forced to sign over the property to Wells Fargo.

Cheronda Guyton was a Wells Fargo senior vice president. She had been seen using the property by neighbors. They saw Guyton's family stayed at the house and hosted a party in August. The guests were ferried to the beach house from a yacht.

In a statement was released today. Wells Fargo's internal investigation concluded:

"a single team member was responsible for violating our company policies. As a result, employment of this individual has been terminated."

"We deeply regret the activities that have taken place as they do not reflect the conduct we expect of our team members," the statement added.