PDA

View Full Version : Wells Fargo Bank Fraud Steals Student's $10,000.



Ponce
7th March 2011, 09:03 AM
At the link, some others very good stories at the end of this one.
================================================== =======


Wells Fargo Bank Fraud: Cashes Check, Closes Account, Steals Student's $10,000.

PETALUMA, Calif. (KGO) -- The common banking practice of making a deposit turned into a $10,000 nightmare for a Bay Area man and his daughter. Their money disappeared.

Myron Hinrich of Petaluma helps support his daughter, Anne, while she studies film-making at USC.

"She's struggling in graduate school; she needed to make a rent payment," Hinrich said.

Anne was low on cash so Hinrich deposited a $10,000 check into Anne's account at Wells Fargo Bank. However, what happened after that came as a complete shock.

"They said the check was fraudulent, they canceled the account and they didn't want to see her again," Hinrich said.

Wells Fargo refused to give Anne the $10,000. Instead, the bank abruptly closed her account and told her to go away. The only explanation? The bank claimed the check was a fraud.

"I didn't know what to think, I didn't' know why they would think it's fraudulent," Hinrich said.




Indeed, it made no sense. The check had already been cashed by Wells Fargo the day it was written and the money had been taken out of Hinrich's account.

"It's the strangest thing I've ever seen, you couldn't find anybody to talk to," Hinrich said.

Wells Fargo would not even speak with Hinrich about what happened, citing privacy laws. The bank also would not speak with Anne, saying her account no longer existed.

"It was a Catch 22; I can't get the money because I don't have an account with them and my daughter can't get the money because they closed her account," Hinrich said.

The way Hinrich saw it, his money had been stolen. So he reported it to the federal comptroller of currency, which makes sure banks obey the law.

"That didn't work either; they accepted Wells Fargo's letter saying I didn't have an account with them therefore they couldn't help me," Hinrich said.

The federal agency closed the case. No one would listen.

"This is $10,000 we're talking here, so that's when I had the idea to call 7 On Your Side," Hinrich said.

7 On Your Side showed all the documents to Wells Fargo and requested the bank deliver a check to Hinrich's daughter in Los Angeles right away.

"She went into the bank and said she wasn't going to leave until she had the $10,000," Hinrich said.

Myron says his daughter sat in the bank in Los Angeles for two hours until finally the check was in her hand.

Wells Fargo says it only needed a letter of indemnity from Westamerica Bank stating the check was valid. Once Hinrich provided that letter, the bank returned the money to the family.

Wells Fargo did not explain why the check was deemed fraudulent in the first place and still cannot explain how it could take $10,000 out of Hinrich's account nearly a year ago, yet still question the validity of the check. The bank claimed it had been holding the money in a separate account all this time, which was news to Hinrich.

The comptroller of the currency declined to comment about its role in closing the case.

http://redactednews.blogspot.com/2011/03/wells-fargo-bank-fraud-cashes-check.html

Ares
7th March 2011, 09:15 AM
Sitting in a separate account? LOL Yeah right!!

It was conjured up out of thin air when they realized they were going to have to give it back.

Libertytree
7th March 2011, 09:18 AM
I'm sure they gave it back with interest :sarc:

platinumdude
7th March 2011, 09:30 AM
I'm sure they gave it back with interest :sarc:


You mean they didn't tack on a holding fee and service fees for this?

vacuum
7th March 2011, 09:49 AM
If corporations are individuals, how come they can't be put in jail?

Libertytree
7th March 2011, 09:53 AM
If corporations are individuals, how come they can't be put in jail?


If individuals are corporations why can't individuals receive tax free status, immunity from prosecution etc...etc....?

Cobalt
7th March 2011, 11:30 AM
About 15 years ago I had a Wells Fargo account and they notified me that they would no longer be sending canceled checks and any check I needed a copy of just contact them.
I called and said I needed every check for the past 2 months and gave them the numbers of about 20 checks, a week later I got a big manila envelope and when I opened it, it not only had my statements for the the past 2 months but the statements and photo copies of 5 other account holders! and the statements had the account number, name, address, phone number, and the Social Security number of the account holder.

I went down to the bank pretty much pissed off because if this could happen to me, just how any other people received account and personal info about me.

The bank manager sat there looking at it with her mouth open and said she'd deal with it and I told her to immediately close my account, she fills out a withdrawal slip and takes it over to a teller and comes back and hands me my balance, I stand up and pick up the envelope and start walking away, she follows me telling me that I can't take it with me that it is confidential information.

I turned around and said yes it is and since my name and address is on the front any and all info inside belongs too me, she followed me all the way to my truck claiming that I could be charged with theft.

When I got home a message was on my machine from some district manager wanting to talk, I called all the other account holders that were in the envelope and explained what happened an gave them his number

Ponce
7th March 2011, 11:53 AM
I love it Cobalt, you pulled a Ponce's shame on them heheheheheheheh.