Wells Fargo ordered the jury to pay $ 832,000,000 after demanding insecure wages for 2,000 children.
Wells Fargo, a jury in Florida, found that the bank has collected unauthorized wages and uses a confidence fund for minors, after hundreds of millions of dollars.
It is a law firm that represents Seminole Payment Trust, a trust fund established by Florida’s Seminole tribe to protect the financial future of approximately 2,000 children. he says Wells Fargo will pay $ 825 million damage and more than $ 7 million compensation for the charged fees.
The case accused Wells Fargo and eight executives of violating the task of trusting the tribe and children. Eight Wells Fargo manager was ordered to pay the jetone damage between $ 50 and $ 500.
According to the plaintiff’s lawyer, Wells Fargo Relationship Manager Kim Scott objected to the bank’s injustice during a cross examination
“… Scott accepted the funds that knewly managed Wells Fargo, preserved inadequate records and collected millions of unauthorized wages. Scott announced that although he managed one of the biggest accounts of the bank, trust has never fully reviewed the management documents.”
Wells Fargo was fired in 2016 as a trustees’ board of trustees in 2016 after the Rate of the Seminolle tribe was reviewed. Wells Fargo’s investment strategy has reported that almost no pacemaking against inflation. The leaders of the Seminol tribe questioned the illegal wages of $ 7.6 million that Wells Fargo demanded confidence.
Following the jury decision Wells Fargo he says will appeal. Wells Fargo’s spokesman Meghan McDonald, a spokesman for Fargo’s wealth and investment management department.
“We followed [Seminole] The tribal government’s management of trust has granted consistent financial results with the authority of trust for the children of the tribe throughout our time, as a clear and repeated instructions and the Board of Trustees, depending on our trust -based duty. Our aim is to address the decision of more than one courtroom that we believe to prevent us from sharing the entire story with the jury. “
Seminole minors were established twenty years ago, and the only trustee Wachovia Bank, Wells Fargo bought Güven, first of all the tribe of the game enterprises obtained. Currently, forecasts place confidence assets as about $ 3 billion.
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