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Tag: wells fargo

FBI: Former Wells Fargo Banker Helped Insider Trading Ring in Exchange for Gold, Cash

Steve Neavling
ticklethewire

 A former Wells Fargo investment banker is accused of tipping off investors in an insider trading scheme in exchange for gold and cash, the FBI announced Thursday.

The banker, John Femenia, was indicted along with eight accused insider traders in an indictment unsealed Thursday.

Femenia, who faces up to 30 years in prison, is accused of stealing private information from the bank that gave investors unfair advantage in the stock market, which is illegal.

Six of the defendants agreed to plead guilty and testify against the others in exchange for lesser charges.

 

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Utah Man Throws Molotov Cocktail at Bank, Ignites Bush

By Danny Fenster
ticklethewire.com

We’ve all been annoyed to find a hidden banking fee lurking in the shadows of our bank statements from time to time. But a Utah man took that frustration to another level, according to an Associated Press report out of West Jordan, Utah.

Joshua Raymond Townsend, 20, is facing a federal count of attempting to destroy a building used in interstate commerce after throwing Molotov cocktails at a Wells Fargo Branch. Townsend was arrested about 15 miles south of Salt Lake City.

Townsend began planning a bank bombing about two months, according to federal officials. He had ordered explosive chemicals but decided earlier this week to instead use Molotov cocktails instead. He called police immediately before throwing the first cocktail. That one failed to ignite and a second bounced off a window and set fire to a nearby bush.

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