Wells Fargo was hit with a class action Wednesday in Nevada District Court on behalf of investors who contend that they lost more than $100 million in a Ponzi scheme. The suit, brought by Simons Hall Johnston and other attorneys, arises from an alleged investment scam which unraveled in March when Las Vegas attorney Matthew Wade Beasley was shot and apprehended by the FBI. The complaint alleges that Wells Fargo aided and abetted the scheme by ignoring suspicious activity involving an IOLTA account at the bank. Counsel have not yet appeared for the defendant. The case is 2:22-cv-00654, Pmm3, LLC et al v. Wells Fargo Bank. N.A.
Banking & Financial Services
April 20, 2022, 7:21 PM