Wells Fargo has responded to allegations that one of its executives moved into a Malibu foreclosed property and held parties there. The bank said its rules of conduct prohibited employees from “personal use of properties” it held, reports the Los Angeles Times. It said it would “take decisive action” against any employee “who may have violated Wells Fargo’s policies.” The house was surrendered by victims of Bernard Madoff’s fraud and it was reported that Cheronda Guyton, a Wells Fargo senior vice president responsible for foreclosed commercial properties, allegedly spent weekends this summer at the home with her family. The paper cited eyewitness reports from residents of the Malibu Colony gated community. Guyton has not responded to phone calls or e-mails seeking comment. The San Francisco bank also said it regretted “the disruption to the neighboring property owners since these allegations were made.” Neighbors recounted a summer evening during which guests arriving for a party at the plush modern home were ferried on a dinghy from a yacht offshore. Patricia Ruben of Sotheby’s International Realty, Los Feliz, said: “My saddest day this year was meeting victims of Madoff’s Ponzi scheme who were also forfeiting their home,” she said. “The idea that another family is frivolously frolicking around the home of a victim’s lifelong work leaves a second stain on humanity, a second robbery.”