Wendy Williams’ repeated claims that she has zero funds stems from the fact that her money is being legally controlled by a third party. The Hollywood Reporter reported that in 2022, Wells Fargo froze her accounts after deeming that she was an “incapacitated person” and “the victim of undue influence and financial exploitation.” This led to a court placing her under financial guardianship, essentially stripping her of the ability to access her own money without the consent of her guardian. This is something that Williams herself is strongly opposed to, cautioning others on the “Where is Wendy Williams?” documentary. “My money is still stuck at Wells Fargo, and I’m going to tell you something. If it happens to me, it could happen to you,” she said.
In an attempt to regain control over her finances, Williams challenged the court’s ruling, because apparently, the decision for her financial guardianship was heavily influenced by claims from her financial advisor Lori Schiller, who alleged that Williams “was of unsound mind,” per documents obtained by People. Wells Fargo also reportedly considered other reports from Williams’ camp that she was being exploited.
Still, Williams insisted that the bank “impeded and unlawfully prevented” her access to her own money, but Wells Fargo had defended its decision as an effort to safeguard her financial health. “The financial well-being of our clients is at the heart of everything we do,” they noted in a statement to the outlet.
