Wells Fargo Kickback Payment Scheme

Illegal Kickbacks Investment Fraud

The Allegations:

Wells Fargo participated in a kickback scheme by selling "Shelf Space Funds" to its unsuspecting customers. Wells Fargo used its broker/dealers to push its investor clients into buying shares of "Shelf Space Funds" because those funds earned Wells Fargo illegal kickback payments and other improper incentives.

The Results:

Pursuant to the Settlement Agreement approved of on February 5, 2008, Wells Fargo paid $1.15 million in cash into a Settlement Fund, which was distributed amongst the claimants proportionally.

A copy of the Order Granting Final Approval can be found below.

The deadline to file a claim was April 5, 2008.

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