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Judge: Wells Fargo to pay $8M for fraud tied to trust set up when Dallas woman was orphan

Wells Fargo Bank has been ordered by a Judge in Dallas County, Texas to pay a woman that was defrauded by the bank more than $8 million.

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Wells Fargo Bank has been ordered to pay a Dallas woman more than $8 million by a state judge who concluded the bank defrauded her in serving as a trustee for a trust established by her relatives in Midland when she was orphaned at age 7.

In court filings and during a 2012 bench trial before State Judge Emily Tobolowsky, Angela Militello alleged that she had been deceived by Wells Fargo, which was acting as the trustee in a trust set up for her as a child. (The original complaint is here.)

Wells Fargo sent a trust officer to Dallas County in 1999 to discuss Militello’s trust, she alleged. At a Dallas restaurant, he informed her she needed to “open a new account” and produced papers for her to assign to create a revocable trust.

In 2006, following her divorce, Militello asked her trust officer how she might get $200,000 to  buy a house where she…

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