Wells Fargo Party Home Sells For $14.95 Million

PHOTOS: Wells Fargo Party Home Sells For $14.95 Million

Via Curbed LA: The musical chairs have finally ended for this Malibu Colony home. Former owners Lawrence and Linda Elin handed over the property to Wells Fargo in 2009 for $12 million after they were devastated by Bernie Madoff. But instead of selling the home, Wells Fargo VP Cheronda Guyton (head of foreclosed properties) was caught using it as her own private party house and subsequently fired. Celebrity realtor Chad Rogers of Bravo's Million Dollar Listing took over, and the sale finally closed a few days ago for $14.95 million. Curbed LA chronicles Chad Roger's price drops: "Asking price was $21.5 million in September 2009 and $18 million in May 2010. The sale price, recorded just a few days ago, was $14.95 million."

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