House Party
September 24, 2009
Malibu, CA, is the latest instance of the devastation caused by Bernard Madoff. A couple in that beachside community lost a fortune including their $12 million beach-front home to Wells Fargo’s foreclosure division. Rather than put the home on the market (and get if off the bank’s books) Cheronda Guyton, senior VP for commercial foreclosures, used the home for lavish weekend parties. One such party even had 20 guests arriving on a yacht and taking a smaller boat to the beach. When all of this was brought to light, Wells Fargo fired Guyton for violating company policy. Bernard Madoff is the former Chairman of the NASDAQ stock exchange and is currently jailed for committing the largest investor fraud in history.
Madoff’s lack of ethics caused a Malibu couple’s plight
And a banker used their beach home as a summer delight
She thought her plan was inspired
But her parties got her fired
This foreclosure expert’s actions just weren’t very bright
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