Foreclosed Malibu Home Is Sweet Temptation For Bank Exec
I was ready to sneer at the Wells Fargo & Co. executive who helped herself to a foreclosed Malibu beach house that she was supposed to oversee but then I got a look at the property. Such temptation! I can understand why the woman might have been tempted to invite a few friends over to the $12 million beachfront home.
The owners, who had lost money in Bernie Madoff's Ponzi scheme, surrendered their fantastically-turned out estate in the pricey enclave of Malibu Colony. The secure community provides a welcome retreat for celebrities, movie execs and other affluent individuals. The fantastically wealthy area functions a bit like a small town where everyone knows each other. Residents in the community noticed the Wells Fargo exec throwing parties in the home and wrote down the license plate number of a Volvo sport-utility vehicle they say was parked in the home's garage. A check of state motor vehicle license plates by the LA Times found the vehicle was registered to Wells Fargo senior vice president Cheronda Guyton.
The 3,800-square-foot, two-story modern home is not on the market but the property website lists it as price available on request.
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Reader Comments (Page 1 of 1)
Maricar McFunder Sep 11th 2009 6:30PM
A very elegant house that truly brings you in awe, modern yet close to nature, how i wish i've this one...
You can also try to look at this: http://bankownedbuffalo.com
Unknown Sep 11th 2009 7:57PM
Wow! That is a really ridiculous story of real estate sleuthing... Sweet pad, though.
Ameth Sep 12th 2009 9:32AM
Beside being on the front beach area, its one of the worst house on malibu i've ever seen- awful, tasteless: vegas. I dont see how one sane person could possibly buy a 3,800-square-foot, two-story modern home for 12 Millions.It's not even made by a designer !
GlobalDia Sep 12th 2009 3:25PM
over THREE-THOUSAND dollars per sq ft????? what buffoon would ever pay that much!!!!!! the house isnt all that nice either.