Bloomberg Law
Oct. 19, 2016, 10:42 PM UTC

Wells Fargo Probed for Identity Theft Over Fake Accounts

Bloomberg Media

By Kartikay Mehrotra and Joel Rosenblatt, Bloomberg News

California’s attorney general is investigating whether Wells Fargo & Co. bankers committed criminal identity theft by creating millions of fraudulent accounts.

Kamala Harris’s office issued a search warrant to the bank on Oct. 5, seeking the names of bankers who opened unauthorized accounts from May 2011 to July 2015. The warrant, provided by Harris, also demands detailed communications, the bank’s fee structure and a calculation of losses suffered by customers associated with the accounts.

Harris’s office said a probe by Los Angeles officials revealed state penal code violations for impersonation and unauthorized ...

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