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Cheronda Guyton
Wells Fargo exec used Malibu Colony home lost by Madoff-duped couple, neighbors say

Bernard L. Madoff's massive fraud stunned some of the wealthy denizens of Malibu Colony, especially when a couple devastated by the scheme surrendered their oceanfront home to Wells Fargo Bank. But some neighbors say the real shocker came when they saw one of the bank's top executives spending weekends in the $12-million beach house and hosting eye-catching parties there. What's more, Wells Fargo spurned offers to show the property to prospective buyers, a real estate agent said. "It's outrageous to take over a property like that, not make it available and then put someone from the bank in it," said Phillip Roman, an 18-year Colony resident who lives a few...

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