Wells Fargo senior vice president fired
Thanks to the sub-prime mortgage crisis and all it entailed, most people in the U.S. now know that when a house is foreclosed or reclaimed, it becomes the property of the bank that holds the mortgage papers. Apparently, Wells Fargo Senior Vice President Cheronda Guyton got confused about what “property of the bank” means.
It’s odd that she didn’t understand the company policies about reclaimed property because Cheronda Guyton was responsible for the foreclosed commercial properties division. A Cheronda Guyton picture shows that the high-level seemed to think that Wells Fargo property was her property. She was caught throwing a party in a $12 million Malibu mansion that the owners had been evicted from.
What does this have to do with Bernie Madoff?
So do people who own a $12 million home in Malibu get kicked out of it? Turns out, the couple that owned the property got mixed up in the whole Bernie Madoff Ponzi scheme business. CBS says “they were financially devastated by Bernard Madoff’s fraud scheme.”
They had completed their personal loan application for their home mortgage with Wells Fargo, and when they suddenly needed money to pay off huge debts, they signed their property over to the bank. There was a stipulation in the couple’s agreement with Wells Fargo that the bank was required to keep the home off the market for awhile. Nonetheless, the couple had to move out.
So Cheronda Guyton knew the owners had gotten the boot but that the house couldn’t be sold. So what did she do? Bollywood91.com says she moved in! CBS news says she “stayed there,” which is a tad more vague, but one thing we know is that she turned this pricey property into a party house. Neighbors complained that she was throwing parties in a home that was supposed to be empty, and the Los Angeles Times caught wind of it.
After the Cheronda Guyton picture confirmed she was throwing parties and staying at the property, and after working for Wells Fargo for 17 years, she got canned. But whatever for? A Wells Fargo spokeswoman says that squatting in company property is against company policy. The bank also says it’s apparent from the Cheronda Guyton picture that she was the only employee involved in this incident.
‘”We deeply regret the activities that have taken place as they do not reflect the conduct we expect of our team members,” the bank said in a statement.
Cheronda Guyton picture not published
Though it has been widely reported that there is photo evidence in the form of a Cheronda Guyton picture from a party at her house, the photo isn’t making the rounds on the Internet — yet. I suppose if the Cheronda Guyton picture only exists as a hard copy or on a digital camera somewhere, it is possible that it could stay that way.
However, I think we all know better than that. I’m sure this Cheronda Guyton picture will surface online soon. At this moment I can’t find any photos of her at all, let alone the incriminating one, but give it time.