Employees from Wells Fargo discharged following investigation. This is not the first scandal to hit the firm.
Wells Fargo recently terminated several employees following an investigation into allegations of falsifying work.
Over a dozen members of staff, all of whom worked in the company’s wealth and investment management unit, “were discharged following allegations involving simulation of keyboard activity creating impression of active work”, according to disclosures filed with the Financial Industry Regulatory Authority (FINRA), as reported by Bloomberg News on Thursday.
Six instances were confirmed by the BBC in which staff had been discharged after review, and one case whereby a staffer voluntarily resigned after being confronted with the allegations.
Many of the staff members had worked for Wells Fargo for less than five years, the BBC reported.
Wells Fargo is an American international banking and financial services holding company headquartered in San Francisco, California. It is the world’s fourth-largest bank by market capitalization.
The firm emphasized the importance of ethical conduct in a statement addressing the dismissals. “Wells Fargo holds employees to the highest standards and does not tolerate unethical behavior”, said spokeswoman Laurie Watson Kight, as reported by Bloomberg.
