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Wells Fargo Cooperation in Ponzi Scheme Complaint

August 20, 2021

Banks are required to follow Know Your Customer rules and to know enough about its customers’ businesses to recognize whether their transactions are reasonable for their purposes or possibly fraudulent. The complaint for this class action alleges Wells Fargo Bank, NA did not give sufficient scrutiny to customers Johanna Garcia and her companies MJ Capital and MJ Taxes, allowing her to run an illegal Ponzi scheme.

Case Event File: Wells Fargo Cooperation in Ponzi Scheme Complaint

Related to: Wells Fargo Cooperation in Ponzi Scheme Class Action