A banking scandal happening in San Francisco was recently brought to our attention, relevant to our positions as Durham estate attorneys. According to sources, a former Wells Fargo employee and his friend are accused of stealing more than $800,000 dollars from elderly and deceased customers.
The bank employee allegedly used his position to allow his friend to access bank accounts belonging to customers of Wells Fargo. These customers were people who would not necessarily be able to stand up for themselves, including senior citizens and deceased individuals. The two men allegedly transferred money through other accounts and finally out of the bank, pocketing it. Wells Fargo has repaired any affected accounts, but it is still something to be wary of.
It is always important to keep track of your finances, whether they are banking, retirement, or stocks. The money the men allegedly took was money the elderly depended on to live and money that should have gone to loved ones of people that passed away.
A probate attorney would be a good person to have on your side in cases like this where there might be concern about misuse of estate assets and dealing with banks in general. When planning and administering estates, Hopler & Wilms keeps careful record of the accounts involved and makes sure you know what assets you have.
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