Monday, February 07, 2022

Wendy Williams Bank Accounts Frozen Over Dementia Claims

Last year Youtube vlogger Tasha K broke the news that Wendy Williams was suffering from dementia and would not be returning to her daytime talk show [click here if you missed that]. 

Now Wendy is suing Wells Fargo for freezing her bank accounts after she was deemed of unsound mind....

From The Sun
Wendy, 57, who has been absent from her eponymous daytime talk show since the end of last season in July of 2021, is asking the court for an emergency order requiring Wells Fargo unfreeze her accounts with them.
In the filing, Wendy’s asserts that Wells Fargo is in “possession of several million dollars’ worth of funds,” belonging to the ailing host, and she has been denied access to her funds for more than two-weeks.
Her attorney alleged that Wendy’s former financial advisor advised the bank that Wendy “was of unsound mind,” and that Wells Fargo has denied her access to her bank accounts and statements.
Wells Fargo has justified its decision to keep Wendy’s accounts frozen by referencing it’s authority under various client agreements to “‘pause or reject instructions for a proposed transaction,’ pending judicial or administrative remedies, should they suspect financial exploitation, dementia, or undue influence,” the petition claimed.
The host’s legal team claims the bank has overreached in its authority, in part because Wendy has not proposed any transaction which should give the bank the discretion to pause or reject access to the accounts.
Her attorney is seeking court orders by allowing her “access to her financial accounts, assets, and statements," while her dispute with Wells Fargo is resolved in arbitration.
The petition alleged that Wells Fargo is in breach of their fiduciary duty and that the host is suffering “imminent and irreparable financial damage.”