Former Wells Fargo exec facing possible prison time, $17M fine

A former high-ranking executive with Wells Fargo (NYSE: WFC) is facing the possibility of prison time as well as millions of dollars in fines tied to the bank's notorious fake accounts scandal.

Carrie Tolstedt, who was once the head of community banking for Wells Fargo, has agreed to plead guilty to obstructing regulators' investigation into the company's sales practices, according to a press release from the U.S. District Attorney's Office, Central District of California.

Prosecutors say Tolstedt…

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