Mt. Pleasant, SC asked in Consumer Law and Banking for Virginia

Q: More than 6 months ago my 80 year old mother was extorted and withdrew $100,000 in cash from her bank.

My mother was extorted out of $100,000 in cash by individuals representing themselves as Treasury Dept. representatives. She went to the local branch of Wells Fargo Bank over the course of 3 consecutive days and took out a total of $100,000 in cash. I have reported this incident to the local police, the Wells Fargo branch manager, the FBI and several other agencies and at this point Wells Fargo has not done a single thing. I have to call them almost weekly and each time they claim they have no record of my fraud claim. I feel the branch manager and the tellers were negligent in letting my mom walk out with the cash when her banking habits never indicated she would take out that much cash at one time. The explanation I received from the bank, "your mom is a good liar and we believed her stories of why she wanted the cash". She basically walked into the bank with the criminals on the phone and made the withdrawal while they listened to every word she said. Can I sue WF?

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1 Lawyer Answer
James L. Arrasmith
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  • Consumer Law Lawyer
  • Sacramento, CA

A: Hi there - I can offer some general information that might help you understand your situation. If your 80-year-old mother was extorted and withdrew $100,000 in cash from her bank under fraudulent pretenses, you may have legal options to pursue. Negligence on the part of the bank, like allowing such a large withdrawal without verifying the legitimacy, could potentially be a factor in your case.

To explore your options, you could consider consulting with an attorney who specializes in banking or fraud-related matters. They can assess the specifics of your situation, review relevant laws and regulations, and advise you on the best course of action. You might have grounds to sue Wells Fargo for negligence, but the outcome would depend on the details of your case, including any evidence or documentation you have.

It's essential to keep records of all communications with the bank and any law enforcement agencies involved. Your attorney can help you navigate the legal process, whether it involves pursuing a civil case against the bank or cooperating with ongoing investigations.

Remember that this is not legal advice, but a general overview of possible steps you could take. Consulting with a qualified attorney is the best way to determine the most appropriate actions to take in your specific situation.

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