A Texas couple says Wells Fargo is refusing to reimburse after $40,000 was stolen from their business account despite urgent warnings of fraudulent activity.
Jose Vasquez tells FOX 26 that on January 27, he and his wife Amanda noticed someone had attempted to set up a direct transfer for $20,000.
He says he contacted Wells Fargo immediately, but the bank appeared to be totally nonchalant.
“I said, ‘hey, please stop the transaction. It’s still pending. I don’t recognize it. I don’t authorize this transaction,.’ They said, ‘no, we’re going to let it hit the other account, and we’ll investigate.”
The very next morning, Jose says an additional $20,000 left the business account.
Said Jose to the bank,
“The same thing happened last night, you guys got to stop it, another $20,000 in less than 24 hours.”
The couple says they don’t understand why Wells Fargo allowed the second $20,000 transfer to go through when they had already been alerted of the first fraudulent transaction.
After filing a claim, Wells Fargo said it detected no fraud in the disappearance of their money, declaring the investigation is over.
The couple ultimately initiated a criminal investigation, and the Fort Bend County Sheriff’s Detective confirmed they also believed the transfers were fraudulent, sending subpoenas to Wells Fargo and a bank in Alabama where the direct pay account is located.
Says Amanda,
“It’s frustrating. At the end of the day, the bank is there to protect customers and they’ve done absolutely nothing to do that. They wrote us a letter saying this is not fraud. Sorry.
Fortunately, this came from a business account. It didn’t affect our personal account. Had it been someone else, like our parents or someone old or retired who rely on this, what would they do? How would they pay their bills?”
Wells Fargo told the Vasquezes that the “case was closed,” a spokesperson for the bank told FOX 26 that it is still investigating.
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Alex Richardson
https://dailyhodl.com/2025/02/24/wells-fargo-allegedly-does-nothing-as-fraudsters-drain-40000-from-account-ignoring-urgent-warnings-of-fraudulent-activity-report/
2025-02-24 17:37:15
