Top firm said investigating banker expense receipts

Receipts

The bank has already fired or suspended more than a dozen staff members for allegedly doctoring receipts to allow them to expense the meals, the Wall Street Journal reported last week.

Bloomberg News reports that Wells Fargo is investigating employees in its investment bank for alleged violations of its expense policy after they tried to get the company to pay for ineligible evening meals.

The bank has already fired or suspended more than a dozen staff members for allegedly doctoring receipts to allow them to expense the meals, the Wall Street Journal reported last week, citing people familiar with the matter it didn’t identify.

“We became aware that certain Wells Fargo Securities team members were not complying with the after-hours meals reimbursement policies after they were brought to the attention of our leaders by concerned team members,” Jessica Ong, a spokeswoman for Wells Fargo, said in an email to Bloomberg. “We took action to address the issue and we continue to investigate the matter.”

Hit the link below to access the complete Bloomberg News article:

Wells Fargo Is Investigating Bankers' Alleged Expense Violations

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