Wells Fargo Bank has admitted to opening millions of customer accounts and credit card accounts without customer authorization since 2005. Stories have emerged of a bank gone wild where employees working in an intense sales culture felt pressured to open new accounts to meet sales quotas.
Wells Fargo has agreed to pay $185 million in fines to the Consumer Financial Protection Bureau.
So what happens when customers file bankruptcy on credit card accounts fraudulently opened without any authorization? Naturally, Wells Fargo filed bankruptcy Proof of Claims with the court itemizing the amounts not legally owed. And that reality leads to the next logical question: Has Wells Fargo committed bankruptcy fraud for filing false proof of claims?
A person who…knowingly and fraudulently presents any false claim for proof against the estate of a debtor, or uses