US recommends yearlong prison sentence for former Wells Fargo exec after accounts scandal ...Middle East

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US recommends yearlong prison sentence for former Wells Fargo exec after accounts scandal
Federal prosecutors on Friday said the former head of Wells Fargo’s retail banking division should serve a year of imprisonment for "obstruction of a banking examination." They also requested "one year of supervised release" following the sentence for Carrie Tolstedt, who pleaded guilty to the charge earlier this year. She was the only executive at the bank to be charged in the fake accounts scandal of 2016. Tolstedt “attempted to conceal from regulators one of the biggest banking scandals in modern history,” prosecutors said in the court filing. “Corporate wrongdoers must be sent a clear message that maintaining a lucrative position through criminal behavior is not worth the risk.”

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