There are a lot of deplorable elements to the recent scandal at Wells Fargo. There are the accounts opened for 2 million bank customers who never asked for nor even knew about them, and the corresponding overdraft fees, late penalties, and damaged credit scores that resulted. There’s the intense pressure placed on low-level Wells Fargo retail employees to meet goals for “cross-selling” customers new accounts and products, which led thousands of those employees to open the phony accounts. There’s the fact that 5,300 of these employees, 90 percent of whom were paid hourly, were fired for succumbing to that pressure, while no top executives were fired or lost any bonus money.

That’s all been well-documented in the record-setting $185 million settlement between the bank and the Consumer Financial Protection Bureau and other federal and local entities.

But there’s a deeper potential scandal—one the bank hasn’t answered for yet. In the five years (at least) during which Wells Fargo employees opened unauthorized customer accounts, the bank’s stock price nearly doubled, thanks in no small part to how well the “cross-selling” was going. And despite being aware of the burgeoning problem for years, CEO John Stumpf signed disclosures with the Securities and Exchange Commission that did not disclose any material financial problems with the bank.

This would read to many as a textbook securities-fraud violation. But so far, neither the SEC nor the Department of Justice has acted, and the potential violation has received scant attention.

But it was the focus of Senator Elizabeth Warren’s robust questioning of Stumpf on Tuesday before the Senate Banking Committee. In an exchange that had already gone viral before the hearing ended, Warren put this question directly to the embattled CEO.

She began by noting that Wells Fargo, the most valuable bank in the world, is widely known for cross-selling products to customers like no other institution. The average big bank has customers with three accounts, while Wells Fargo’s goal is eight. This shows investors that Wells Fargo has a very dedicated client base that will keep coming back to the bank for financial services.

“Cross-selling isn’t about helping customers get what they need. If it was, you wouldn’t have to squeeze your employees so hard to make it happen. No, cross-selling is all about pumping up Wells’s stock price, isn’t it?” Warren asked.

Stumpf said “No,” and Warren wouldn’t even let him finish his sentence.

“Let me stop you right there. You say no? No? Here are the transcripts of 12 quarterly earnings calls that you participated in from 2012 to 2014, the three full years in which we know this scam was going on,” she said, waving the bound copies in the air. “These were calls where you personally made your pitch to investors and analysts as to why Wells Fargo is a great investment. And in all 12 of these calls, you personally cited Wells Fargo’s success at cross-selling retail accounts as one of the main reasons to buy more stock in the company.” She then read off lines from each call as Stumpf sat stone-faced.

She asked Stumpf if he knew how much he personally made as Wells Fargo’s stock price soared during these years. He gave a halting non-answer, but Warren told him—$200 million. Then she ended with a sound bite that’s likely to make the evening news nationwide.