The talk show host alleges that Wells Fargo has denied her access to her funds for several weeks due to her former financial advisor advising the bank she "was of unsound mind."
Wendy Williams hasn't been seen hosting her talk show all season long due to unspecified health reasons, but now it seems she's facing another battle, and this one is financial.
According to a legal filing dated February 4, obtained by People and several other media outlets, the talk show host is currently in a battle with Wells Fargo over "several million dollars" of her funds that she claims she's being denied access to.
According to the bank's own filings, also obtained by People, they've frozen Williams' accounts because the organization "has strong reason to believe that [she] is the victim of undue influence and financial exploitation."
Many of the conclusions seem to have come from communications with Williams' former financial adviser, Lori Schiller, with the institution reporting that Schiller advised that Williams "was of unsound mind."
The bank further says that Schiller's reports that she had "recently witnessed telltale signs of exploitation, including [Williams]' own expressed apprehensions." In her own legal filing, as detailed by People, Williams claims that she fired Schiller due to her "malfeasance in relation to [Williams]' accounts" and "improper conduct in relation to their professional relationship."
Wells Fargo claims that there are "other independent third parties" who "share these concerns," but Williams asserts that the bank is relying "on Schiller's assessment as support for its decision to deny [her] access to her financial assets and statements."
Williams is pushing for the New York Supreme Court to require Wells Fargo to immediately unfreeze her accounts. She asserts that if this does not happen, she "will be in default of several bill payments, including her mortgages, her marital settlement payment, and employee payroll."
In response, Wells Fargo on February 9th filed a petition "for the appointment of a guardian of the property of [Williams]," per People. In the document, Williams was described as "incapacitated" and a "victim of undue influence and financial exploitation," claims which Williams' attorney vehemently denied.
Williams' attorney further noted in their response letter that Wells Fargo denying Williams access to her money without adequate explanation and their decision to not file for guardianship until after Williams filed her emergency petition to the courts "gives pause for concern about [their] intentions."
The note further called for Williams' assets to be unfrozen in the interim until "a hearing be scheduled in an effort to resolve this matter as equitably and efficiently as possible for the benefit of both parties."
Wells Fargo denied the allegations levied against it in a statement to People, emphasizing that it is "fully participating in a court process to reach a resolution that is in her best interest."
Meanwhile, Williams' fans have been missing her on her talk show, as she has been absent this entire season. Earlier this week, TMZ reported that Sherri Shepherd is nearing a deal to step as a permanent guest host, likely for the rest of this season, as Williams continues to recuperate from various ailments, including Graves' disease, a thyroid condition and a battle with Covid.
According to TMZ, Shepherd will likely begin as a permanent guest host, but if it appears Williams is unable to return before Season 15 is set to kick off in September, then the show would likely be renamed (and possibly retooled) with Shepherd as the new permanent host.