Wells Fargo Fires Employees Over Alleged Coronavirus Relief Fraud

SMS
Wells Fargo Fires Employees Over Alleged Coronavirus Relief Fraud
Wells Fargo's human resources department said it believes the employees lied when applying for relief funds for themselves.
SHOW TRANSCRIPT

Wells Fargo fired more than 100 employees suspected of fraudulently applying for coronavirus relief funds. 

In a memo obtained by multiple media outlets, Wells Fargo's human resources department said it believes the employees lied when applying for relief funds for themselves.

They filed applications through the Economic Injury Disaster Loan Program, which would mean they defrauded the U.S. Small Business Administration.

Wells Fargo is investigating the situation.

Contains footage from CNN