Wells Fargo Creates Millions of Fake Accounts

[by The Money Badger] Last year, Wells Fargo ($WFC) admitted to defrauding their customers for years.

Thousands of the bank’s employees opened duplicate accounts without customers’ knowledge or consent. This ended up netting the company millions in extra fees. It also provided Wells Fargo investors with inflated customer numbers and sales figures.

Since then, the company shelled out hundreds of millions in fees. Their CEO and other high-ranking executives left, albeit with multi-million-dollar payouts. (The company recently took most of that money back from said executives.) Over five thousand employees who took part in this scheme lost their jobs.

Only one question remains: how did thousands of bank managers defraud customers in the first place?

To find out, watch the 4-minute video above, or continue reading…