Wells Fargo Accused of Mismanaging Millions from Seminole Tribe Minors’ Trust in High-Stakes Legal Battle
Miami, FL – In a recent court case, Wells Fargo and its previously associated bank, Wachovia, are facing allegations of defrauding minors from the Seminole Tribe of Florida out of $818 million. The accusations presented at the trial, which commenced on Wednesday, claim the banks engaged in surreptitious fee increases and mismanagement of investments tied to a multibillion-dollar gambling trust. During the opening statements of what is anticipated to be a multi-week trial, testimonies focused on the nature of the financial management provided by Wells Fargo and Wachovia to more than 2,000 underage members of … Read more