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 said.
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 Madoff's massive fraud scheme, real estate agent Irene Dazzan-Palmer said.
The couple signed the property over to Wells Fargo last spring, and the bank subsequently denied requests to show the house to prospective buyers, Dazzan-Palmer said.
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 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 Guyton.
Guyton is a Wells Fargo senior vice president responsible for foreclosed commercial properties, resident Phillip Roman said.