Wells Fargo Exec Who Partied in Foreclosed Beach House Loses Job
Well, at least one banking executive is personally feeling the pain of the foreclosure crisis: Wells Fargo has fired a top employee who moved into a foreclosed
Jul 31, 2020603.9K Shares9.2M Views
Well, at least one banking executive is personally feeling the pain of the foreclosure crisis: Wells Fargo has fired a top employee who moved into a foreclosed Malibu beach house and threw lavish parties all summer there, the Los Angeles Timesreports.
“„Cheronda Guyton, a senior vice president responsible for commercial foreclosed properties, broke company rules barring personal use of bank property, Wells Fargo said in a statement Monday.
“„The Times reported last week that Guyton had been spotted by neighbors spending time at the Malibu Colony home with her family this summer. At a party in August, guests were ferried to the beach house from a yacht, residents of the enclave said.
The property’s former owners were victims of convicted swindler Bernie Madoff’s Ponzi scheme,and lost the home as a result.
This story pretty much has everything you might look for if you’re trying to follow the foreclosure crisis. An expensive second home, taken back by the bank. Bernie Madoff. A top executive of a bailed-out bank capitalizing on someone else’s foreclosure mess. The yacht that brought guests to the party.
And now it has something else as well: Someone at the bank appears to have paid the price for unacceptable behavior. With top executives of companies bailed out by the taxpayers still raking in big paychecks, that’s definitely something we haven’t seen much in this crisis. Too bad it had to take over-the-top behavior like partying in someone’s foreclosed house for that to finally happen.
Paolo Reyna
Reviewer
Paolo Reyna is a writer and storyteller with a wide range of interests. He graduated from New York University with a Bachelor of Arts in Journalism and Media Studies.
Paolo enjoys writing about celebrity culture, gaming, visual arts, and events. He has a keen eye for trends in popular culture and an enthusiasm for exploring new ideas. Paolo's writing aims to inform and entertain while providing fresh perspectives on the topics that interest him most.
In his free time, he loves to travel, watch films, read books, and socialize with friends.
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