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14

Wells Fargo Subpoenaed in Sham Account Case

By Tony Seruga

John Stumpf, chief executive of Wells Fargo. CreditAndrew Harrer/Bloomberg

Wells Fargo has received subpoenas from three different United States attorneys’ offices in the last week, escalating an investigation into how thousands of bank employees came to secretly issue more than a million sham accounts without customers’ consent.

Federal prosecutors in Manhattan and San Francisco sent the subpoenas seeking information on the misconduct, according to two people briefed on the matter who were not authorized to discuss it. Prosecutors in North Carolina are also investigating, one of the people said…

Wells Fargo Subpoenaed in Sham Account Case

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