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Wells Fargo Bank and Mortgage Investors Corporation

The whistleblowers alleged in this case that Wells Fargo and Mortgage Investors Corporation illegally charged veteran borrowers hidden fees on refinanced home loans guaranteed back by the Veterans Administration. Six other banks have settled for a total of $161.7 million dollars under the threat of the same allegations. This MIC case is still pending in the United States District Court for the Northern District of Georgia but the Wells Fargo case was settled in August 2017 for $108 million.


Status: Settled


Outcome:

Six banks have settled for a total of $161.7 million dollars.


Articles and Links:

  • Facing Trial, Wells Fargo Pays $108 Million to Settle Whistleblower Suit
    Click here for Daily Report Article dated August 4, 2017
  • St. Pete entrepreneur Bill Edwards dogged by lawsuit seeking to freeze assets
    Click here for Tampa Bay Times article dated January 29, 2017
  • Bibby Lawsuit Alleges Hidden Charges On Veteran Loans
    Click Here for video story by WSBTV, Channel 2, Atlanta, Georgia.
  • Six Banks To Pay $161M In Vets Mortgage Settlement
    Click Here for Fox 5 I-Team Video Report of November 20, 2012.
  • Six Banks Pay $161 Million To Settle False Claims Act Charge
    Click Here for Corporate Crime Reporter Article dated November 20, 2012.
  • Wells Fargo Must Face Suit Over Veteran Loans, Judge Says
    Click Here for Bloomberg Article dated November 20, 2012.
  • Wilbanks & Gouinlock Settles $45 Million Dollar Veteran Fraud Lawsuit With Defendant Jpmorgan Chase
    Click here for Press Release.
    Click here for Fox 5 Atlanta report on settlement with JP Morgan Chase.
    Click here for Washington Post article dated March 13, 2012.
  • Whistleblower Lawsuit Takes On Banks Nationwide That Cheated Taxpayers, Veterans Out Of Hundreds Of Millions Of Dollars
    Click here for Press Release.
    Click here for Amended Complaint filed July 18, 2011.
    Click here for The Washington Post Article dated October 4, 2011.
    Click here for The Washington Post Article dated October 16, 2011.
    Click here to see the AdvisorOne article dated November 11, 2011.


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Marlan Wilbanks, Esq.

Marlan Wilbanks

Marlan is currently acting as lead counsel in important qui tam cases that are filed in over 16 federal and state courts across the nation. He has handled whistleblower litigation matters against numerous individuals and large companies that have committed fraudulent acts against the government in federal courts and many state courts, including cases from California to Florida.

»Read Marlan’s Bio

Susan Gouinlock, Esq.

Susan Gouinlock

Susan S. Gouinlock has represented whistleblowers for more than ten years. Susan joined Wilbanks & Bridges in 2011 and became a partner in 2013. Her legal career has been successful and diverse, including a unique mixture of working for the government as a lawyer as well as years of representing individuals and businesses in highly regulated environments, including for example spending six (6) years as in-house general counsel to a major corporation.
»Read Susan’s Bio