Wells Fargo banker looted accounts, headed for prison

Richardo Adolfo Benavente III of Chula Vista, a former banker for Wells Fargo, was sentenced Wednesday, November 13, to 27 months in prison.

He stole $293,000 from Wells Fargo accounts and moved the money to accounts under his control. His targets were large accounts in which there was little activity; he figured the account holders weren't monitoring them. Then he moved the money to accounts in the names of fictitious customers.

Benavente also did not report his ill-gotten gains to the Internal Revenue Service.