{"id":5827,"date":"2015-07-22T00:00:00","date_gmt":"2015-07-22T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/07\/wells_fargo_must_pay_woman_ove"},"modified":"2022-05-06T15:58:45","modified_gmt":"2022-05-06T20:58:45","slug":"wells-fargo-must-pay-woman-ove","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/wells-fargo-must-pay-woman-ove\/","title":{"rendered":"Wells Fargo Must Pay Woman Over $8M For Alleged Fraud Involving Childhood Trust"},"content":{"rendered":"

Wells Fargo Bank (WFC) must pay a Dallas woman over $8 million. Texas State Judge Emily Tobolowsky said that the bank defrauded Angela Militello in its role as trustee for a trust that family members set up for her when she became an orphan at the age of seven.<\/p>\n

Militello contends that in 1999, a trust officer sent to her by the bank told her to set up a new account and gave her papers for establishing a revocable trust. After Militello filed for divorce in 2006, she asked the trust officer about withdrawing $200,000 from the trust to purchase a home for her and her child.<\/p>\n

The trust officer gave her a check for that amount and a form asking for approval of the completed sale of a percentage of the assets in the trust. The remainder of assets was to be sold within a few months. Militello claims that Wells Fargo and a third party conspired to sell the assets in her trust at way below market value and fraudulently charge her tfor the property taxes after a buyer purchased the assets.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Wells Fargo Bank (WFC) must pay a Dallas woman over $8 million. Texas State Judge Emily Tobolowsky said that the bank defrauded Angela Militello in its role as trustee for a trust that family members set up for her when she became an orphan at the age of seven. Militello contends that in 1999, a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3750,3836],"tags":[],"class_list":["post-5827","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-texas-securities-fraud","category-wells-fargo"],"yoast_head":"\nWells Fargo Must Pay Woman Over $8M For Alleged Fraud Involving Childhood Trust — Investor Lawyers Blog — July 22, 2015<\/title>\n<meta name=\"description\" content=\"Wells Fargo Bank (WFC) must pay a Dallas woman over $8 million. 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