Ex-Wells Fargo FA Faces Embezzlement Charges

A former Wells Fargo financial advisor in Michigan is facing a felony charge over alleged embezzlement, mlive.com writes.

David Homan was arraigned in Bay County District Court on one count of embezzlement between $50,000 and $100,000, which could lead to a 15-year prison sentence, according to the news website.

But Joseph Weiler of law firm Chalgian & Tripp, a lawyer representing the trust fund from which Homan allegedly embezzled the money, told police in 2015 the former advisor allegedly stole more than $500,000 from the fund, mlive.com writes.

The trust belonged to Elizabeth Stafford, who died in April 2009, with her sister named as the beneficiary, according to the news website.

When the sister died in 2013, another sister was named as successor but she too died in 2014, with her three daughters named as the subsequent beneficiaries, mlive.com writes. Read More