WENDY Williams’ bank called her an “incapacitated person” who is the possible “victim of financial exploitation” in an ongoing lawsuit, The Celeb Report can exclusively report.
Wendy’s legal team filed for an emergency petition last week demanding Wells Fargo allow her access to her bank accounts, which they alleged had been frozen for over two weeks.
The Wendy Williams Show host’s financial advisor had allegedly alerted the bank that the host appeared to be “of unsound mind,” and the bank further believed she was the victim of “exploitation, dementia or undue influence,” according to her team’s petition seeking to reopen the accounts.
The Celeb Report can now exclusively reveal that Wells Fargo has responded to Wendy’s team, and told the court that they have filed a petition for a guardianship hearing, “concerning the client’s capacity.”
The bank’s attorney further alleged “Wells Fargo has strong reason to believe that the petitioner is the victim of undue influence and financial exploitation.”
Wells Fargo’s team also suggests the guardianship proceedings continue under seal, as they would like “to preserve the confidential interests of the alleged incapacitated person.”
The bank’s response also claimed that Wendy has been a client of the financial advisor for the past 15 years and that her financial advisor has an “unblemished record in 23 years in the industry.”
In their determination to freeze Wendy’s accounts, Wells Fargo claimed they relied on reports of the financial advisor, “who has recently witnessed tell-tale signs of exploitation, including the petitioner’s own expressed apprehension.
The bank also claimed to have spoken to “independent third parties who know the petitioner well and share these concerns.”
Wendy’s team filed their response, and denied Wells Fargo’s claims that “Wendy is the victim of undue influence and financial exploitation.”
‘IRREPARABLE FINANCIAL HARM’
As The Celeb Report previously exclusively reported, Wendy says she has been frozen out of her accounts containing millions of dollars for over two weeks.
The host of The Wendy Williams Show – who has not appeared on the daytime series in several months as she suffers from multiple health problems– said in the lawsuit’s latest filings that her frozen accounts have caused her “irreparable financial harm.”
Wendy and her representatives claimed that Wells Fargo had told them they would be given a ruling after she provided them with a “properly executed, witnessed, and notarized Power of Attorney and signed letter of representation.”
A power of attorney gives a designated individual the right to make decisions about another person’s property, finances, or medical care when the person is unable to do so.
The court papers do not specify who is authorized to act on her behalf or what powers were assigned to that person.
Wendy argued in the papers that the bank “repeatedly denied” her requests to access her financial assets, which total over “several million dollars.”
She wrote: “I have submitted multiple written requests to Wells Fargo and I have visited various Wells Fargo branches in the South Florida area in an effort to resolve this matter outside of the courtroom.
“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.”
‘DEMENTIA’ CLAIMS
As The Celeb Report previously reported, Wendy claimed that Wells Fargo officials had justified their decision to keep Wendy’s accounts frozen by referencing their authority to “pause or reject instructions for a proposed transaction, pending judicial or administrative remedies, should they suspect financial exploitation, dementia, or undue influence.”
The host’s legal team claimed that the bank had overreached in its authority, in part because Wendy had not proposed any transaction which should give the bank the discretion to stop her access to the accounts.
Her attorney has sought court orders to allow her “access to her financial accounts, assets, and statements,” while her dispute with Wells Fargo is resolved in arbitration, but since Friday, the case has escalated with the temporary restraining order filed Wednesday.
The legal battle with Wells Fargo has emerged as the ailing talk show host’s show has found a “permanent guest host” with fan favorite Sherri Shepherd, 54.
After a rotating roster of guest hosts, TMZ first reported that Sherri will be a permanent replacement barring a recovery and potential return from Wendy.
WHAT’S WRONG WITH WENDY?
As The Celeb Report previously reported, the daytime presenter has been battling a health crisis for some time.
Sources said the once witty, sharp host of The Wendy Williams Show isn’t the same as she used to be as she battles multiple medical problems.
A source close to the show told The Celeb Report: “The spark is gone. That Wendy, who for ten years had that spark in her eyes, that cheeky grin and that little wink is not the same now.”
The insider added some days are better than others for the once feisty daytime diva.
“She’s not always functioning like she used to be. She has days where she needs help eating, getting out of bed and getting dressed.
Even more heartbreaking, the source added, she doesn’t always recognize people whom she’s known for years.
“There are people who Wendy knows- who have worked closely with her- and there are days that she has no idea who they are.”
WENDY HOSPITALIZED
The Celeb Report was first to report that Wendy had been transported to a New York hospital in September of 2021 following a 911 call for a person in need of psychiatric services.
Soon after, the daytime talk show host quietly hired a crisis public relations manager.
Meanwhile, The Wendy Williams Show released four statements between September 9 and October 12, blaming her absence from her show and any promotional duties on a breakthrough COVID case, “ongoing medical issues,” and symptoms from Graves’ disease.
On November 8, the show’s Instagram released a statement from Wendy saying she was still coping with health issues, and as a “woman of a certain age” she knew to listen to her doctors and that “right now, Wendy has to focus on Wendy.”
It was the only statement that purportedly came from Wendy since the start of the season.
TROUBLING INCIDENT
The Celeb Report exclusively reported that at the start of the pandemic lockdown in 2020, the host allegedly struggled with her addiction issues which spiraled into a dark and troubling incident in May of that year.
Just before the host’s team claimed she was hospitalized for Graves’ disease that month, Wendy experienced a disturbing episode with a handful of people present as she was working from home.
According to sources, Wendy’s manager was summoned to her penthouse apartment after she had appeared unwell during a Zoom show taping earlier in the week.
Her manager and a small group of confidants arrived to the host’s home to lend support to the struggling talk show queen.
According to multiple sources, Wendy had stripped naked in her room and was shouting vulgar comments.
The host was eventually taken to the hospital, where she would remain for weeks.
Reps for Wendy and The Wendy Williams Show did not respond to The Celeb Report’s multiple requests for comment.
If you or someone you know is affected by any of the issues raised in this story, call SAMHSA (Substance Abuse and Mental Health Services Administration) at 1-800-662-HELP (4357).
