In a letter sent to a judge in response to Wendy's petition to unfreeze her bank account, Wells Fargo cites Lori Schiller's claim that the TV host's friends have warned her about leeches financially exploiting the ailing star.

• Feb 11, 2022

AceShowbiz - Wells Fargo is making a case for its decision to freeze Wendy Williams' assets. Following the ailing TV host's petition asking a New York court to restore her access to a bank account containing "several million dollars," Wells Fargo tells a judge they have a reason to believe that Wendy is an "incapacitated person" who needs a guardianship.

In a letter sent by Wells Fargo's lawyer David H. Pikus to Judge Arlene Bluth on Thursday, February 10, David said the bank is "concerned" about the situation regarding Wendy's finances as her former financial advisor Lori Schiller had "recently witnessed signs of exploitation, including [Wendy's] own expressed apprehensions" about the people around her.

"To summarize without divulging too much on the public record, Wells Fargo has strong reason to believe that [Wendy] is the victim of undue influence and financial exploitation," the letter stated. It went on to say that the decision was made not only based on Lori's statement but due to Wendy's friends calling them up.

"Wells Fargo is relying not only on reports of the financial advisor, who has recently witnessed telltale signs of exploitation, including the petitioner's own expressed apprehensions, but also upon other independent third-parties who know [Wendy] well and share these concerns," the bank argued.

Well Fargo asked the court to set a date for a hearing to determine whether Wendy needs a professional to intervene in her affairs. "It is our hope that the Guardianship Part [of the court] will imminently appoint a temporary guardian or evaluator to review the situation and ensure that [Wendy's] affairs are being properly handled," they said in the letter.

Wendy's lawyer Celeste N. McCaw, however, said in a letter that Wendy "denies that she is the victim of undue influence and financial exploitation." Celeste went on to say that Wendy had fired Lori as her advisor due to alleged "malfeasance" involving her accounts as well as "improper conduct in relation to their professional relationship."

Wendy filed a petition on February 4, seeking her account to be restored while she resolves her dispute with Wells Fargo via arbitration. The 57-year-old host said, "I have visited various Wells Fargo branches in the South Florida area in an effort to resolve this matter outside of the courtroom. To date, I have submitted and made over a dozen requests, regarding the financial damages resulting from Wells Fargo's decision to unlawfully deny me access to my accounts."

She went on claiming, "As a result of my inability to access my financial assets, I have defaulted and I am at risk of defaulting on several billing and financial obligations, including, but not limited to, mortgage payments and employee payroll."