Consumer complaint received 2022-11-01
Company: WELLS FARGO & COMPANY
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
WELLS FARGO TERRORIZES CUSTOMER OF 15 YEARS I have been a customer of Wells Fargo for almost 15 years with checking and savings accounts, mortgages, LOC and Money Markets. I have a personal checking account, an MMA, personal savings, and two business checking accounts. Total funds are over {$92000.00}. 
My accounts were seized on XX/XX/XXXX after a Wells Fargo banker and branch manager in XXXX XXXX, FL decided I was engaging in fraudulent activity. I sent a wire on XX/XX/XXXX and misspelled the name, so it was returned. I went back on XX/XX/XXXX to send the funds to a different recipient working with the company I was investing with. The banker told me the routing number did not work, so I called the CEO of the company and got account information for another person on the project. 
I know the CEO of the company and I offered to invest in the project he and a group are doing in XXXX.I was informed by the bank manager and banker that the wire was my responsibility and not covered for loss, and I agreed to that verbally 4 times. I said I would sign a document agreeing to that, since I know who I was sending the money to. 
At this point, the baker and manager went in the back office and came out after about 15-20 minutes. They informed me the routing number actually did work for the second recipient, but that the third recipient is a dead person. The third recipient was on the phone with the CEO to provide the account information and was very much alive. They told me they suspect me of fraudulent activity such as money laundering and would not accept that the funds in my account came from a sale of property, even though I deposited the check at their branch. 
By the time I got home, all five of my accounts were frozen. I could not pay my XXXX  or XXXX, nor pay my mortgage and bills. 
My accounts that were frozen on XX/XX/XXXX were supposed to close on XXXX. I was notified late on XX/XX/XXXX that closure was delayed to XX/XX/XXXX. Late on XX/XX/XXXX I received notice that the closure was delayed to XXXX. I did not get an email on XX/XX/XXXX, but got it late on XX/XX/XXXX that the closure on all accounts is delayed again from XXXX until XX/XX/XXXX. 
All five accounts are being held hostage, with notification specifying " We are waiting for a bank to request a return of deposit to this account ''. There is NO deposit to return, the last deposit on XX/XX/XXXX was a check of proceeds from the sale of one of my properties. The sale of the property and parties involved can be confirmed online in five minutes. 
A Suspicious Activity Report has also been filed on me. I can not open new accounts, I can not pay some of my bills, and this is a nightmare. There just can not be a legal reason for Wells Fargo to continue to hold all of my money and destroy my credit. 
I had to borrow {$15000.00} and drain all my other savings to keep my company going, pay my XXXX  and pay my bills. Wells Fargo is holding hostage over {$92000.00} of my operating and personal capital. No-one will discuss anything with me or tell me why or what is happening... or when it will end. I am over XXXX XXXX XXXX, and this is crippling my business and my life. I haveneverparticipated in fraudulent activity ; I am a XXXX XXXX XXXX for 38 years and invest in XXXX XXXX on the side.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation