Talk show star Wendy Williams is at risk of defaulting on her mortgage and leaving her employees without pay after Wells Fargo Advisors froze access to her accounts, according to court documents.
While the money manager said it believed Williams was being financially exploited, Williams has filed a petition in New York state court asking a judge for an injunction that would give her control again over accounts worth several million dollars.
“Until Wells Fargo reopens my personal, business, deferred compensation, and investment accounts, unfreezes my financial assets, my family and I are at risk of suffering continued irreparable financial harm,” Williams said in court papers.
Williams, 57, is a native of Asbury Park and Ocean Township, and lived in Livingston.
The legal battle over her finances comes as Williams is struggling with medical issues. Producers reportedly have plans for her eponymous series to move on with a new host.
Williams last appeared on “The Wendy Williams Show” to close out its 12th season in July 2021.
In her petition for an emergency injunction filed Feb. 4, Williams’ lawyers said the talk show host lost access to her accounts after Wells Fargo financial adviser Lori Schiller said Williams was unsound.
Williams fired Schiller and alleged improper conduct in their professional relationship, the court papers said, but Wells Fargo has continued to deny Williams access to her financial assets and statements, even as bills are coming due.
in its response, Wells Fargo said regulators have increasingly been urging finance companies to beware of possible exploitation of their clients.
It froze Williams’ accounts because it had reason to believe Williams was the victim of undue influence and financial exploitation, according to court documents.
Wells Fargo said the financial adviser has an unblemished record over a 23-year career and noticed telltale signs of exploitation, including Williams’ own apprehensions, court papers said.
“Wells Fargo’s priority is the financial well-being of Ms. Williams and the preservation of her privacy,” the company said in a statement. “As we have expressed to the Court, Wells Fargo is open to working with Ms. Williams’ counsel to release funds directly to her creditors for bills historically and regularly paid from her accounts.”
Williams’ show launched Season 13 in October featuring a string of guest hosts, while Williams — who has the autoimmune disorder Graves’ disease and a thyroid condition — remained off-air due to medical issues.
Williams also tested positive for a breakthrough case of COVID-19 in September.
Sherri Shepherd, who has been among the series’ replacement emcees, is on deck to become a permanent guest host, TMZ reported on Tuesday.
According to TMZ, who cited “multiple sources with direct knowledge,” if Williams is not well enough to return by September, Shepherd will take over as the star, and the name of the series would be changed.
A representative from “The Wendy Williams Show” did not respond to a request for an official comment on Friday morning.
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