Wells Fargo defends handling of Seminole trust in court

Wells Fargo told a Florida jury it properly managed a multibillion-dollar trust for the Seminole Tribe, rejecting claims it mismanaged investments and secretly raised fees. Plaintiffs allege the bank overcharged minors by $818 million, while Wells Fargo argues it followed the tribe’s request for a low-risk “keep-it-safe” trust. The trial will examine whether the bank’s investment approach and fee structure violated financial obligations.