A recent Supreme Court decision and Justice Department friend of the court brief has breathed new life into a whistleblower case against Wells Fargo & Co.

The case was originally filed by the former controller of Wachovia Corp., which Wells acquired in 2008, and a former originator of Golden West Financial, which Wachovia acquired in 2006.

According to their lawsuit, which was filed under the False Claims Act, Wells and Wachovia made false claims and statements in order to receive bailout funds.


Source: Mortgage Daily