Thread regarding Wells Fargo & Co. layoffs

Carrie Tolstedt settles case for $3 million- she got off easier than elizabeth holmes

https://www.charlotteobserver.com/news/business/banking/article275981206.html

investors. That money is in addition to $500 million previously paid by Wells Fargo. Tolstedt also agreed to pay other remedies totaling close to $2 million, according to the release. “Companies do not act on their own,” said Regional Director Monique Winkler of SEC’s San Francisco office in a statement this week. “Where the facts warrant it, we will hold senior executives accountable for conduct that violates the securities laws.” Wells Fargo, based in San Francisco, maintains a massive financial and employment presence across the Charlotte area, with some 27,000 employees. It came to North Carolina in 2008 with the purchase of Wachovia.

Read more at: https://www.charlotteobserver.com/news/business/banking/article275981206.html#storylink=cpy

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Post ID: @OP+1mVXc3YP

12 replies (most recent on top)

The settlement is with the SEC only. She has a separate trial where she plead guilty in LA court. She might get up to 16 month in jail.

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Post ID: @1qqv+1mVXc3YP

@ivq+1mVXc3YP

Whether she gets no prison time, or she gets the death penalty, it literally has zero impact on WF going forward. It's not relevant to this forum. You can be fascinated with true crime all you want, lots of people are, but it's not about layoffs or the future of the company.

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Post ID: @1fim+1mVXc3YP

Two systems of justice.

Always has been, always will be.

It's awful.

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Post ID: @1fvt+1mVXc3YP

Sad, but this money is probably is not coming out of her pocket, Stumpf’s pocket, Sloan’s pocket. These executives all had liability insurance, provided by the bank, which protects the personal assets of corporate directors and officers, and their spouses, in the event they are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company.

How about that? Literally no risk for white collar crime in the C-suite.

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Post ID: @1fvp+1mVXc3YP

She should have had prison time, Stumpf should have had prison time, Shelley Freeman, Pam Conboy and the rest of the spineless, selfish leaders that caused people to lose their bond, their employment, their sanity and for unleashing all of the sh-t that has gone down since 2016 should be in prison and their ill gotten gains seized and distributed to employees er team members who were around at the time.

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Post ID: @1rqo+1mVXc3YP

It’s been said on this board and others, but the decisions of CT & others cost a lot of team members their jobs/careers

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Post ID: @1pyg+1mVXc3YP

Carrie is a good person. Let her be.

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Post ID: @wie+1mVXc3YP

And how much for the impacted customers? Exactly, shows what it's really all about. I don't know why this stuff is even posted here. Charles is busy shutting down the bank and firing us all and instead of paying attention to that, here we are. Eye on the prize folks.

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Post ID: @hzs+1mVXc3YP

Why is this layoff board so obsessed with this person?

Time to move on much?

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Post ID: @rsq+1mVXc3YP

Great. Pay fines with ill gotten money. Luv our legal system and how the elites are treated.

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Post ID: @neb+1mVXc3YP

no federal pound me in the a r s e prison for this globalist sc-m. she probably won't even to jail and she'll just pay back in to the large slush fund these corporations launder money through to fit their causes. theatre all of it.

PS Charlie s u c ks ballzzzz

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Post ID: @xhz+1mVXc3YP

If Stumpf got off easy so should she.

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Post ID: @duf+1mVXc3YP

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