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.