Wells Fargo bank managers forge their...

Wells Fargo bank managers forge their customers’ signatures to commit fraud

Posted in the Medford Forum

Erin Wants to Steal

San Luis Obispo, CA

#1 May 12, 2014
‘A Wells Fargo Bank depositor has charged in a lawsuit that the institution forces its branch managers to meet quotas for new accounts and that they do so by forging customers’ signatures on applications.
According to Courthouse News Service, the depositor, David E. Douglas, has filed suit against the bank and three managers and assistant managers in the Los Angeles Superior Court. Named in the suit were Michelle Romanoff, assistant manager of the bank’s branch at La Cienega and Wilshire; Arthur Davis, branch manager at Century City; and Alex M. Fuentes, branch manager and assistant vice president of the Wilshire-Crescent branch.’
Read more: Wells Fargo bank managers forge their customers' signatures to commit fraud, contends lawsuit
NaturalNews) A Wells Fargo Bank depositor has charged in a lawsuit that the institution forces its branch managers to meet quotas for new accounts and that they do so by forging customers' signatures on applications.
According to Courthouse News Service, the depositor, David E. Douglas, has filed suit against the bank and three managers and assistant managers in the Los Angeles Superior Court. Named in the suit were Michelle Romanoff, assistant manager of the bank's branch at La Cienega and Wilshire; Arthur Davis, branch manager at Century City; and Alex M. Fuentes, branch manager and assistant vice president of the Wilshire-Crescent branch.
In the suit, Douglas described himself as a "long-time valued customer" of the bank. He also said he recently learned that Wells Fargo "has had and continues to have a policy of requiring its employees and branch managers to meet a quota of opening new accounts monthly in order to achieve sales goals and in order to maintain their employment at Wells Fargo."
Signing up customers without their knowledge or consent
Given that corporate requirement, the bank "should have known that its employees and bank managers routinely use the account information, date of birth, and Social Security and taxpayer identification numbers of defendant Wells Fargo's existing bank customers to use the existing bank customers' money to open additional accounts in the existing customers' names without their knowledge or consent and by forging the signature of their existing customers without their knowledge or consent to open said additional accounts, including purported business accounts for businesses that do not exist," Douglas says in his suit.
The plaintiff also claims that the individual defendants opened at least eight accounts under his name, forging his signature each time on the applications, and all without his knowledge. In addition, the defendants made up businesses using his name, "including 'David E. Douglas Painting and Design' and 'David Douglas Landscaping,' when plaintiff had no such businesses and was not engaged in those types of businesses at all."
Douglas also claims that Fuentes transferred or tried to transfer money from his account to the account of Fuentes' mother - again, without his consent.
Learn more: http://www.naturalnews.com/042174_Wells_Fargo ...

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Medford Discussions

Title Updated Last By Comments
moving to oregon (Sep '06) Feb 19 Leaving soon 182
News Woman files sexual harassment lawsuit against A... (May '16) Feb 8 Elks member 29
News Transgender man claims he's pregnant (Mar '08) Feb 6 TheJerseyDevil 62
News Oregon woman plans to parade topless (Jun '08) Feb 6 Parade Phart 1,346
Lacey elaine oliver Jan 28 Lilysdaddy 1
How to lose tourist dollars 101 Jan 24 CaptainOfIndustry 1
News Medford businessman Kelly Rasmussen accused of ... (Oct '08) Jan '17 Cjben79 12

Medford Jobs

More from around the web

Personal Finance

Medford Mortgages