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2020-02-24 06:27:03

Wells Fargo gets slapped with $3B fine for fake accounts probe

The scandal-stricken financial services company Wells Fargo was slapped with a fine of whopping three billion US dollars ($3 billion) to settle its long-running investigation into allegedly creating over one and half million phony deposit accounts, CNN Business reported on Saturday. In an economy where people are turning to cryptocurrencies as means to avoid hefty bank fees, it is surprising to find out that a renowned multinational company such as Wells Fargo would be able to pull off fraud to such a degree. Reportedly, the scam-plagued company’s employees earned millions of dollars by creating unwarranted bank accounts for years in