Wells Fargo wants mistakenly sent client data returned

Information includes names, Social Security numbers of tens of thousands of wealthy clients

Jul 25, 2017 @ 5:15 pm

By InvestmentNews

Wells Fargo, which says one of its outside lawyers mistakenly misdirected a staggering 1.4 gigabytes of sensitive information about tens of thousands of its wealthy clients, wants the information returned.

The bank has asked judges in New York and New Jersey to require that the attorneys representing a former employee return the information they received in error from Angela Turiano, an attorney at Bressler Amery Ross, who represents the bank in the case.

The electronic files contain client names, Social Security numbers, account balances and other sensitive information.

According to Reuters and The New York Times, which reported the data breach last week, the bank's attorney sent the data to lawyers for former Wells Fargo employee Gary Sinderbrand in response to a New Jersey court case involving a dispute between Mr. Sinderbrand and his brother, also a former Wells Fargo employee.

Gary Sinderbrand, who is involved in a parallel lawsuit against his brother and Wells Fargo in New York state court, has not shared the information publicly.

New York and New Jersey have ethics rules that require lawyers to notify the other party if they receive information that "was inadvertently sent," Reuters said. In a letter to New York Supreme Court Judge Charles Ramos, Mr. Sinderbrand's New York attorney, Aaron Zeisler, wrote that he notified Ms. Turiano on July 20 about the information, but that Wells Fargo's attorneys have not yet described which documents they want returned.

The documents and spreadsheets containing client information were originally provided to Aaron Miller, Mr. Sinderbrand's lawyer in the New Jersey case, who later shared knowledge of what the documents contained with Mr. Zeisler.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

Financial health of advisory firms is excellent. Or is it?

Deputy editor Bob Hordt and senior columnist Jeff Benjamin discuss the fact that double-digit growth in revenue and assets doesn't necessarily spell a rosy future.

Latest news & opinion

Don't be fooled by the numbers — the industry is in a dangerously vulnerable state

Last year's stock market gains helped advisers turn in solid growth in assets and revenue, but that growth could disappear in the next market downturn.

Divided we stand: How financial advisers view President Trump

InvestmentNews poll finds 49.2% approve of his performance, while 46.7% disapprove. How has that changed over the course of his presidency?

10 states with the most college student debt

Residents of these states have the most student debt when you consider their job opportunities.

Invesco to buy OppenheimerFunds

Deal brings Invesco another $246 billion in assets, as well as high-fee actively managed funds.

Dawn Bennett found guilty of $20 million Ponzi scheme

Jury took less than five hours to convict the former financial adviser and radio host.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print