It's Nice To Work For A Bank

All the perks, you know:

A Wells Fargo executive who oversees foreclosed properties hosted parties and spent long summer weekends in a $12 million Malibu beach house, moving into the home just after it had been surrendered to Wells Fargo to satisfy debts, neighbors told The Associated Press.

The previous owners of the beachfront home in Malibu Colony — a densely built stretch of luxury homes that has been a favorite of celebrities over the years — were financially devastated in Bernard L. Madoff’s massive fraud scheme, real estate agent Irene Dazzan-Palmer told the news service.

...Residents in the gated community told The Los Angeles Times that a woman they believe was Cheronda Guyton took up occupancy at the home in May. Residents said they obtained Ms. Guyton’s name from the community’s guards, who had issued her a homeowner’s parking pass.

Residents also wrote down the license plate number of a 2007 Volvo sport-utility vehicle they say was parked in the home’s garage. A check of state motor vehicle license plates by The Times found the vehicle was registered to Ms. Guyton.

Guyton is a Wells Fargo senior vice president responsible for foreclosed commercial properties, resident Phillip Roman told The Associated Press.

”It’s outrageous to take over a property like that, not make it available and then put someone from the bank in it,” said Mr. Roman, who lives a few homes away from the property.

Residents said Ms. Guyton, along with her husband and two children, often hosted guests at the home, including a large party the last weekend of August. Malibu Colony is about 25 miles from downtown Los Angeles.