Estimated reading time: 0 minutes, 41 seconds

Wells Fargo Axed 100+ Staff for Deceit in Collecting Covid-19 Relief Funds

Wells Fargo & Co. handed pink slips to more than 100 of its employees who are suspected of lying to secure coronavirus relief funds for themselves. So reports Bloomberg, citing a person familiar with the matter.

wells fargoThe lender noted that the workers cheated the Small Business Administration “by making false representations in applying for coronavirus relief funds for themselves,” Bloomberg reported last month, citing an internal memo it reviewed. These employees allegedly sought the funds from the Economic Injury Disaster Loan program, which the government instituted to assist struggling businesses during the pandemic.

“We have terminated the employment of those individuals and will cooperate fully with law enforcement,” David Galloreese, Wells Fargo’s head of human resources, wrote in the memo. “These wrongful actions were personal actions, and do not involve our customers.”

Read the full article from Bloomberg.

Read 76 times
Rate this item
(0 votes)

Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.