Money Makers Mentor

Wells Fargo Fires Over 100 Employees for Coronavirus Relief Fraud

Wells Fargo (WFC) fired over 100 employees for allegedly defrauding a coronavirus relief program from the U.S. Small Business Administration (SBA).

In an Oct. 14 memo obtained by NPR, the bank said it had identified employees that allegedly made false representations while applying for relief funds through the SBA’s Economic Injury Disaster Loan program.

Wells Fargo also noted that the employees’ actions were outside of their work responsibilities.

“We have terminated the employment of those individuals and will cooperate fully with law enforcement. These wrongful actions were personal actions, and do not involve our customers,” wrote David Galloreese, Well Fargo’s head of human resources.

“We have zero tolerance for fraudulent behavior and will continue to look into these ma…

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