Ex-Wells Fargo Employee Accuses Firm Of Firing Him Over Daughter's Cancer Costs

ModernHealthcare.com reports that according to a lawsuit filed Aug. 2 in a Florida Fifteenth Judicial Circuit Court in Palm Beach, Wells Fargo fired Yovany Gonzalez in August 2010 - three days before his daughter Mackenzie was scheduled for surgery to remove a cancerous tumor - based on allegations that he had falsified his time records. In his lawsuit, Gonzalez contends that the bank manufactured the fraud allegations as a means of ducking premium costs that would have resulted from his daughter's treatment.

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Former Wells Fargo employee says company fired him over daughter's cancer costs

In the meantime, Bloomberg reports that a U.S. appeals court upheld the insider-trading conviction of Joseph Contorinis, a former Jefferies Paragon Fund money manager, and ordered a hearing into whether he must forfeit $12.6m.

Contorinis, 48, was convicted in Manhattan federal court in 2010 and sentenced to six years in prison for participating in an illegal insider-trading scheme that prosecutors said earned him more than $7m.

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Ex-Jefferies Paragon Manager Contorinis Conviction Upheld

Finally, The New York Times reports that the former Chief Executive of the failed brokerage firm Peregrine Financial Group, who last month wrote a note admitting that he had committed a long-ranging investment fraud, pleaded not guilty on Friday to lying to federal regulators.

Federal prosecutors charged Russell Wasendorf Sr., the former head of Peregrine, with 31 counts of deceiving regulators about the value of his customers’ accounts. If convicted, he would face a maximum prison sentence of 155 years.

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Peregrine Founder Pleads Not Guilty

image: © Lisamarie Babik