Tue Feb 3, 2009 8:54pm EST

(Updates with company statement on cancellation)

By Jonathan Stempel

NEW YORK, Feb 3 (Reuters) - Wells Fargo & Co (WFC.N), which received $25 billion from the government's bank bailout program four months ago, said it had canceled employee events in Las Vegas after a report saying it had booked expensive hotels.

The move came after the Associated Press said the bank had booked 12 nights at the Wynn Las Vegas (WYNN.O) and the Encore Las Vegas, two of that city's more upscale hotels, as part of a conference for top mortgage officials.

Wells Fargo had also been planning a 3-day meeting starting on Feb. 25 for 40 insurance employees at another high-end hotel, the Mandalay Bay Resort & Casino, according to the Las Vegas Convention and Visitors Authority's website.

The bank issued a statement saying it had canceled events, although it was not immediately clear when these were planned for. Wells Fargo was immediately available for comment.

"We had scaled back the mortgage event, but in light of the current environment, we have now decided to cancel this event as well. We do not plan to have any other recognition events this year," it said in a statement.

The bank, however, defended such events as part of its culture, and said the Associated Press report was misleading.

"The event is not a 'junket' for executives but a four-day business meeting and recognition event for hard-working team members who made homeownership achievable and sustainable for borrowers across the nation," it said.

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