NEWSER – JENN GIDMAN
Wells Fargo is in the news again, though this time it’s a rogue entity, not upper management, that’s catching all the heat. Ex-bank teller Phelon Davis has pleaded guilty to stealing more than $185,000 from a bank customer over a two-year period, starting in October 2014, when the customer arrived with a trash bag filled with cash to deposit.
It was then that Davis noticed the customer “had a surprisingly large balance with the bank,” per a signed crime statement. What made that cash cache surprising, per the Washington Post: The customer was homeless and had long kept accounts with the bank, though some had gone dormant. Not long after that interaction, Davis set up a new account in the customer’s name (as well as a linked ATM card and email that Davis controlled) and started siphoning money, per a court filing.