Cheronda Guyton, the Wells Fargo senior executive who used to party at the Malibu mansion located at 106 Malibu Colony Road -last owned by Lawrence and Linda Elins, was fired.
Lawrence and Linda Elins suffered a huge loss due to Bernie Madoff’s Ponzi scheme, and were forced to sign over the property to Wells Fargo.

Guyton, who had been responsible for Wells Fargo’s foreclosed commercial properties, was having weekend parties at the foreclosed 3,800 sqft beach-front house on Malibu Colony. According to neighbors, Guyton was using the property not only for parties but also family members were staying at the house.

Click on the photo to see more pics of 106 Malibu Colony

Earlier this year Wells Fargo was on the news for receiving $25 billion in government bailout money last October and planing “recognition events” at upscale Las Vegas hotels for top mortgage employees. It said in February that events of this magnitude were part of its culture.

Wells Fargo stated earlier this month that it would repay its bailout funds without raising additional capital.

“We deeply regret the activities that have taken place as they do not reflect the conduct we expect of our team members,” the fourth-largest U.S. bank said in the statement about the employment termination of senior vice president Cheronda Guyton.

Source: Los Angeles Times