While we all may have a secret desire to take up residence in a magnificent Malibu estate, not everyone is willing to engage in such deceitful means as shamed Wells Fargo exec Cheronda Guyton. On September 11 the Los Angeles Times reported that Guyton, a Wells Fargo & Co. executive who oversees foreclosed properties, began living in a $12 million mansion in Malibu Colony that the bank had recently seized. The owners of the incredible abode were victims of Bernard Madoff’s massive Ponzi scheme and were forced into foreclosure in the spring of this year. Shortly after, neighbors reported seeing Guyton and her family move into the foreclosed property, where she proceeded to host a lavish party at the end of August.
Malibu Colony, located approximately 25 miles from downtown Los Angeles, is a close-knit community that has long been popular with Hollywood celebrities. This particular Malibu estate featured a 3,800-square-foot, two-story structure built in the early 1990s. While Wells Fargo did not put the property on the market after the foreclosure, since the scandal Hilton & Hyland agent Chad Rogers has listed the Malibu property for $21.5 million.