Millionaire mortgage boss and 'financial wellness' guru is terrifying bully who ran 'sex-driven' office where men leered at female colleagues, workers claim

The CEO of one of America's largest mortgage companies has been labelled a terrifying bully who ran a 'sex-driven' office - despite openly purporting the importance of 'wellness.'

Victor Ciardelli, President and CEO of Guaranteed Rate, is accused of berating, cursing at and demeaning employees while running a workplace that allowed men to leer at female colleagues. 

Nearly 80 former workers reported persistent verbal abuse and accused the 57-year-old entrepreneur of promoting a misogynistic atmosphere at the firm.

An expose by the Chicago Tribune analyzed a wide array of documents, including court records, internal company emails, written exit interviews, and text messages.

'Every person that works directly under Mr. Ciardelli is terrified of his potential anger outbursts,' one former employee wrote to the HR department of Guaranteed Rate, the seventh largest residential mortgage company in the United States.

Victor Ciardelli, President and CEO of Guaranteed Rate, is accused of berating, cursing at and demeaning employees while running a workplace that allowed men to leer at female colleagues

Nearly 80 former workers reported persistent verbal abuse and accused the 57-year-old entrepreneur of promoting a misogynistic atmosphere at the firm (Christa Allen, Victor Ciardelli and Rose Thorn attend birthday dinner for Cuba Gooding Jr. hosted by 50 Cent) 

An expose by the Chicago Tribune analyzed a wide array of documents, including court records, internal company emails, written exit interviews, and text messages

Guaranteed Rate vehemently denies the allegations, claiming the Tribune investigation was a 'hit piece' and 'irresponsibly written,' intended to tarnish their company's reputation. 

Ciardelli, unveiled a 'financial wellness' app last fall, where he emphasized Guaranteed Rate's commitment to 'caring about people and their overall well-being.'

'Something we are passionate about at Guaranteed Rate is caring about people and their overall well-being,' Ciardelli said in front of a live audience in Times Square, accompanied by wellness luminary Deepak Chopra.

'We wanted to make sure that we did something to help people in their general stress and alleviate pain,' he added. 

But Ciardelli's former employees paint a very different picture about the work environment their boss fostered.  

Some former staff stated that the toxic work environment was so bad, it led them to seek mental health care, with one individual even contacting a suicide hotline last year, according to the report. 

Ciardelli, who has a reported net worth of $500 million, spent a record $37.5 million on a Miami Beach home in 2021

Guaranteed Rate vehemently denies the allegations, claiming the Tribune investigation was a 'hit piece' and 'irresponsibly written,' meant to tarnish their company's reputation (pictured)

Several women also recalled a sexualized workplace culture in the report. 

They detailed instances where male loan officers and managers allegedly made sexually explicit comments, flirted with female employees at the office and at work events, and made inappropriate remarks about their looks. 

The referenced one example where a woman was encouraged to use her looks to help close a loan. 

Several former employees refrained from reporting their grievances to human resources, fearing that Ciardelli or other executives would interfere in departmental matters and potentially retaliate, the Tribune reported.

And two former employees claimed they witnessed instances where company leaders shielded specific staff members from consequences.

Others who did lodge complaints expressed dissatisfaction with the results - stating that their concerns were not taken seriously by the department.

But Ciardelli and Guaranteed Rate have firmly denied these allegations, describing the company as a 'supportive workplace' especially for women. 

Guaranteed Rate, headquartered in Chicago's North Center neighborhood, has seen significant growth since its founding in 2000. 

It has become one of the largest mortgage lenders in the country based on loan volume, according to Inside Mortgage Finance.  

Ciardelli, who has a reported net worth of $500 million - as per Iamgoldpanda.com - spent a record $37.5 million on a Miami Beach home in 2021. 

He's no stranger to star-studded events, having been pictured at an event for the embattled Cuba Gooding Jr, hosted by rapper 50 Cent in 2023. He's also been captured throwing the first pitch before a game between the Philadelphia Phillies and the Chicago White Sox back in 2016. 

He unveiled a 'financial wellness' and 'personal well-being' app last fall in front of a crowd with Dr. Deepak Chopra (pictured)  where he emphasized Guaranteed Rate's commitment to 'caring about people' 

In response, Ciardelli, dismissed criticisms of the company and placed the blame on disgruntled former employees 

In response, Ciardelli, dismissed criticisms of the company and placed the blame on disgruntled former employees.

A Guaranteed Rate spokesperson told Dailymail.com that the article published by the Chicago Tribune was a 'hit piece written to tarnish our company's reputation.'

'We categorically disagree with what was written in the article and believe it to be inaccurate. Much of the article was fueled by former disgruntled employees who are now working with a competitor,' the spokesperson continued.   

'We provided the Chicago Tribune with a tremendous amount of information that debunked the story that was irresponsibly written. We provided them with over 80 testimonials of current female executives, top female loan officers and former company employees documenting their positive experience at the company and love for the culture.'

The company said the accusation against them will not deter them from having a 'fun' and 'positive' work environment.  

'This article will not deter us from having fun, continuing to stay positive, supporting one another, and serving our customers. Even though we disagree with what was written, we want to be better and continue to improve. As such, we will lean into what more we can do to make the company even greater than it is today.'

'We are more encouraged than ever by where we are today and what our future will bring. We will continue to make a positive impact in the lives around us, the lives of our customers, and the lives of the people in the communities we serve.'