Wells Fargo exec linked to scandal collected $125M in exit pay

The leader of the team at Wells Fargo that created 2 million unauthorized customer accounts retired earlier this year with a massive payday of $124.6 million. And it doesn't appear the bank will claw back any of that money.

Carrie Tolstedt, the executive in charge of the unit in which 5,300 employees created the accounts to hit sales targets, will be able to walk away without paying back any of the money.

SEE MORE: Home Depot founder endorses 2016 candidate

Upon her exit, Well Fargo's CEO John Stumpf praised Tolstedt, calling her a "standard-bearer of our culture" and "a champion for our customers." Before her retirement, she had been with the company for 27 years and was the fourth highest-paid executive.

Wells Fargo has agreed to pay $185 million to settle claims it had defrauded its customers, the largest penalty ever imposed by the Consumer Financial Protection Bureau.

Look back at some of the biggest news scandals of 2015:

Biggest news scandals of 2015
See Gallery
Biggest news scandals of 2015

Millions of adulterers (and perhaps some who signed up just for the thrill) were explored this year when hackers made good on a promise to release the contact information of everyone on the notorious Ashley Madison cheating website. The names, credit card information and sexual preferences of millions were revealed in the big hack, including reality star Josh Duggar.

(Photo by Carl Court via Getty Images)

Former Secretary of State Hillary Clinton spent a good amount of this year defending herself for using private email servers to conduct official State Department business. The story dominated headlines for months, with many opponents questioning potential security lapses along with her judgment for using the servers in the first place. Clinton herself has admitted it wasn't her smartest decision. 

(Photo by Bloomberg via Getty Images)

The world now knows that New England Patriots quarterback Tom Brady prefers slightly deflated balls, thanks to Deflategate. The controversy began when the team was accused of improperly tampering with footballs used in the AFC Championship Game against the Indianapolis Colts. Months after winning Super Bowl XLIX, Brady was slapped with a four-game suspension over his role in the scandal, which was reversed in time for him to play. 

(Photo by Andrew Burton via Getty Images)

The U.S. Department of Justice indicted more than two dozen FIFA officials and prompted nine arrests in Switzerland on counts including racketeering and money laundering related to the 2018 and 2022 World Cup bids.

(Photo by VANDERLEI ALMEIDA via Getty Images)


More from AOL.com:
Woman hospitalized after eating Chipotle sues chain for free burritos
Trump: Yellen should be 'ashamed' of what she's doing to the country
Starbucks is spending millions of dollars to fix its 'basic' image problem

Read Full Story