Wells Fargo Exec Turns Foreclosed Home Into Party House

September 15, 2009 No Comments »

malibu

A Wells Fargo executive was fired after word surfaced that she was crashing at a $12 million dollar Malibu mansion owned by the bank and throwing “eye-catching” parties, according to the LA Times.

Local residents identified the woman as Cheronda Guyton, a Wells Fargo senior vice president responsible for the management of foreclosed commercial properties.

The property had previously been owned by victims of the Bernie Madoff scam, who were forced to surrender the Malibu Colony property to the San Francisco-based bank and mortgage lender.

Apparently Guyton and her husband and two children occupied the home shortly after the previous owners ditched in mid-May.

It wasn’t long before Guyton and friends were throwing elaborate soirees, including one which featured a waterborne arrival via an offshore yacht.

Meanwhile, local real estate agents were attempting to get prospective buyers in the door, only to be turned down by the bank for some unknown reason.

The bank later told the Times that an agreement with the previous owners required it to keep the home off the market for a certain period of time, but that it plans to list it for sale in the near future.

Needless to say, Wells is completely embarrassed about the incident, given the current financial climate.

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