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Saturday, Jul 20, 2024

Wells Fargo accused of securities fraud in state lawsuit

The state of California accused Wells Fargo & Co. of fraud Thursday for the company’s role in an investment meltdown that has been compared to the Bernard Madoff scandal in magnitude. Atty. Gen. Jerry Brown sued three Wells Fargo investment subsidiaries, alleging they committed securities fraud by telling California investors that $1.5 billion of risky securities sold to them were as safe as cash. For the full story click here

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