Wells Fargo Whacked for $5 Million

Wells Fargo Advisors must disgorge $1.1 million in ill-gotten gains and pay a $4 million fine for misconduct in sale of market-linked investments to generate fees for itself at the cost of its customers, the SEC said Monday.

WASHINGTON (CN) — Wells Fargo Advisors must disgorge $1.1 million in ill-gotten gains and pay a $4 million fine for misconduct in sale of market-linked investments to generate fees for itself at the cost of its customers, the SEC said Monday.

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