Houston business owner claims Wells Fargo has held $142K check for eight months
Houston business owner claims Wells Fargo has held $142K check for months
A Houston business owner says he's been waiting for eight months for Wells Fargo to release a six-figure check to him. He tells FOX 26's Randy Wallace the situation behind the matter.
HOUSTON - It doesn't appear the insurance company which wrote a six-figure check for a Houston business owner is questioning its validity. But for some unknown reason, Wells Fargo won't say why they won't release the funds.
$142,000 withheld
What they're saying:
The business owner says he wants his leftover insurance money or at least a straight answer as to why Wells Fargo is keeping it. He says he has been waiting for eight months to receive the rest of the money.
The saga began on May 4, 2024, after a home the business owner owns as well as several others in River Plantation flooded
With the help of public insurance adjuster Bill Spell, the man got the maximum pay-out from his insurance company: $150,000.
But after spending about $8,000, he claims Wells Fargo closed his personal and business accounts and withdrew the funds for "security reasons."
His attorney sent Wells Fargo a demand letter for the leftover money three months ago, and the bank has yet to respond.
"The insurance adjuster, the guy who cut the check, the guy who authorized $150,000 to leave the insurance company, calls Well Fargo, the number they said was good, explained the whole situation: 'This is a real check. We issued it. It's negotiable. You should release this,'" said Bill Spell.
Still no check.
The other side:
In a statement, Wells Fargo says it's researching the matter and are in direct communication with the business owner's attorney.
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The Source: FOX 26 reporter Randy Wallace spoke with a business owner and public insurance adjuster Bill Spell.