Warm Southern Breeze

"… there is no such thing as nothing."

Wells Fargo CEO John Stumpf’s Massive Credit Card Fraud

Posted by Warm Southern Breeze on Friday, September 23, 2016

Update: Saturday, 20 February 2021
NOTE: TO THE READER: As you read any story mentioning, involving or written by Donald V. Watkins, Sr., it must be borne in mind that he is now a Federal Convict, and along with his son, Donald V. Watkins, Jr., was found guilty of numerous charges. “Donald Watkins Sr. was convicted of seven counts of wire fraud, two counts of bank fraud and one count of conspiracy. Donald Watkins Jr. was convicted of one count of wire fraud and one count of conspiracy.” As of the date of this note, he is in Federal Custody at Oklahoma City Federal Transfer Center, an administrative security facility, having been relocated away from the minimum security Federal Prison Camp on Maxwell Air Force Base in Montgomery, Alabama.

DONALD V. WATKINS
Register Number: 36223-001
Age: 72
Race: Black
Sex: Male
Located at: Oklahoma City FTC
Release Date: 01/10/2024

Department of Justice, U.S. Attorney’s Office, Northern District of Alabama
FATHER AND SON SENTENCED TO PRISON IN MULTIMILLION-DOLLAR INVESTMENT FRAUD SCHEME
Tuesday, July 16, 2019
https://www.justice.gov/usao-ndal/pr/father-and-son-sentenced-prison-multimillion-dollar-investment-fraud-scheme

Here also is the SUPERSEDING INDICTMENT dated December 2018 entitled as:
IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ALABAMA SOUTHERN DIVISION, UNITED STATES OF AMERICA v. DONALD V. WATKINS, SR. and DONALD V. WATKINS, JR. – 2:18-cr-166-KOB-TMP
https://www.justice.gov/opa/press-release/file/1116081/download

See also: Donald Watkins, Son Sentenced For Federal Fraud Convictions
Updated Jul 16, 2019; Posted Jul 16, 2019
https://www.al.com/news/2019/07/donald-watkins-son-to-be-sentenced-for-federal-fraud-convictions.html

See also: Donald Watkins’ $1.5 Billion Question: Was It Ever Real?
Updated Feb 23, 2019; Posted Feb 23, 2019
https://www.al.com/news/2019/02/donald-watkins-15-billion-question-was-it-ever-real.html


Elizabeth Warren Is Right!

by Donald V. Watkins

Senator Elizabeth Warren is right. Wells Fargo CEO John Stumpf should resign and face a criminal investigation for the 2 million acts of bank account and credit card fraud committed on his watch. This fraud was widespread criminal conduct that was part of Wells Fargo’s bank culture. Top executives at the bank received bonuses based upon this fraud. No one has been prosecuted.

Why?

Bank regulators and federal prosecutors are afraid to prosecute the CEOs of the so-called Big Banks. They enjoy immunity from prosecution. Not one of them was prosecuted for running their banks into the ground during the Great Recession of 2008 and losing $13 trillion in American wealth in the process. Other nations sent their crooked bank CEOs to jail. Here, we bailed them out with taxpayers money and gave them bigger bonuses. They thanked us by finding new ways to cheat customers and regulators.

Stumpf and his fellow CEOs are modern-day untouchables, and they know it. The Big Bank bank employees who get prosecuted for criminal wrongdoing are usually low-level tellers and cashiers who embezzle funds from their banks.

Had the bank I own in Birmingham, Alabama, engaged in the same fraudulent conduct, we would have been raided and shut down. All of my executives would have been arrested on the spot. After all, this kind of conduct would never be tolerated at one of America’s 19 black-owned banks.

Sadly, there is not a federal prosecutor in America with the guts to charge John Stumpf or Wells Fargo with bank and credit card fraud. Wells Fargo and other Big Banks in America own most of the Congressmen/women who are investigating them; they control the regulators who supposedly “regulate” their business conduct; and they dare our Justice Department to prosecute them for the bank account fraud, credit card fraud, wire fraud, mail fraud, bid rigging, bribery, price fixing, money laundering, and any other criminal offenses they commit on a routine basis.

Welcome to the world of America’s Big Banks. Not only is Elizabeth Warren right, she is the only one in Washington with the guts to call it like it is. I wish Senator Warren was running for President. She would make a difference.

http://www.bloomberg.com/news/articles/2016-09-20/wells-fargo-expands-account-review-to-2009-and-2010-stumpf-says

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