Busted: Bankers and The Global Economy

February 8, 2008

Wachovia Bank Bilks Millions

Filed under: banking, money — Tags: , , , , , — digitaleconomy @ 12:31 pm

If you every doubted the goodwill of a banker, here is a reason to doubt and be very wary of anything said or promised by a bank for any reason. Wachovia has bilked over 300,000 customers through telemarketing.

Reuters Article

Wachovia Corp, the fourth-largest U.S. bank, is fighting a lawsuit accusing it of letting fraudulent telemarketers use its accounts to bilk millions of dollars from consumers. Documents filed last month in the U.S. District Court in Philadelphia, also reported in the February 6 edition of The New York Times, detail accusations the bank and its lawyers knew about the fraud allegations for years.

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