Controversial Wells Fargo House in Malibu Colony Sold

The foreclosed-on house where a Wells Fargo vice president moved herself in and threw wild parties has been sold for $14,950,000, according to the MLS. The house had been originally listed at $21 million and then dropped to $18 million.

The four-bedroom, four-bath home is located in the famed Malibu Colony and has unobstructed ocean views. It has walls of glass, and features an indoor/outdoor living space with glass pocket doors leading to the outdoors. There are state-of-the-art appliances in the chef's kitchen and the master suite has a steam shower, spa tub and large walk-in closet.

The 3,800-square-foot house drew international attention last September when it was learned that a Wells Fargo bank vice president had moved herself in after the bank had foreclosed on the property. She was fired once her escapades became public. Some local Realtors said the bank blocked showings of the home. Neighbors reported large parties being thrown at the property, including some where guests would be ferried to the house from a yacht anchored off shore. The original owners were a couple who had been duped by Bernie Madoff.

Hilton & Hyland agent Chad Rogers had the listing and is believed to have also represented the buyer. Rogers declined to comment on the sale.