A Wells Fargo customer is facing a decade in prison after taking advantage of an arrangement with the bank to steal nearly $1 million. California resident Kenneth Gould, who ran a payroll services firm, has pleaded guilty to bank larceny after stealing $830,000 from the banking giant, reports FOX 26 News. Court documents show Gould executed fraudulent ACH payments from a client’s account to his own payroll company’s account at Wells Fargo, withdrawing the funds with cashier’s checks. Gould’s payroll services firm had a prior relationship with Wells Fargo where the bank would credit all or a portion of the payments to the receiving account before the ACH transfers clear. When Wells Fargo discovered that the sending account had insufficient funds to cover the transfers, it abruptly blocked the payments and tried to recover the money initially sent. But it was already too late. Gould promised Wells Fargo that he would return the funds, but he never did. In addition to a maximum 10-year sentence, Gould is facing a $250,000 fine. He is slated for sentencing on June 2nd. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post $830,000 Drained From Wells Fargo As Customer Executes Brazen Attack, Triggers Fraudulent Bank Transfers: Report appeared first on The Daily Hodl .
