CEO sold millions in Wells Fargo stock before fraud revelations

Former Wells Fargo Chairman and CEO John Stumpf sold $61 million worth of Wells Fargo (WFC) shares in the month prior to settling a long-running investigation that charged the bank with falsifying millions of customer accounts to boost sales and fees. The following month, when regulators announced on Sept. 8 that they’d fined Wells Fargo $185 million for falsifying more than 2 million customer accounts to meet aggressive sales goals, the company’s stock price plunged and Stumpf was called on the carpet before Congress before finally resigning this week.
Read more: http://www.cbsnews.com/news/wells-fargo-ceo-john-stumpf-sold-millions-in-company-stock-before-bank-fraud-revelations/?source=Snapzu