Wells Fargo’s Malibu mess
Partying bankers, a foreclosed mansion, Madoff victims and a ritzy Malibu neighborhood that’s home to Tom Hanks: Friday’s Los Angeles TImes story had a little something for everyone.
The paper reported that Cheronda Guyton, a Wells Fargo senior vice president responsible for foreclosed commercial properties, spent weekends at 106 Malibu Colony Road throwing “eye-catching” parties, one of which had guests arriving in a yacht.
Eyepopping pictures of the mansion are available on the realtor’s website.
The Wall Street Journal’s Deal Journal interviewed real estate agent Irene Dazzan-Palmer, who has been trying to sell the property:
It’s explosive because it happened in Malibu. We are a celebrity beach community. It’s also because these poor people lost their house and then a bank employee moves in. It leaves you with a bad taste in your mouth.
The mansion’s previous owners were forced into foreclosure because they were victims of Bernard Madoff’s Ponzi scheme.
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