July 13, 2026
Wells Fargo will pay $50 million to settle a proposed class action alleging it knowingly helped a Las Vegas attorney run a multimillion-dollar Ponzi scheme deceiving investor victims into fronting money for borrowers awaiting personal injury settlement payouts, according to a preliminary approval order issued in Nevada federal court.
May 05, 2023
Wells Fargo has been hit with a second lawsuit over its ties to a Las Vegas attorney who is accused of running a nearly $500 million Ponzi scheme, this time by a court-appointed receiver who says the bank's malfeasance has caused an over $100 million loss to the companies in his custody.