Notorious banking miscreant allegedly tries to defraud an anti-fraud expert via scam affecting thousands
Bernard “Jay” Patterson had never done business with Wells Fargo, so when he received a statement for a checking account in his name, he had questions. And as a forensic accountant and certified fraud examiner who has applied his expertise in numerous lawsuits — including several involving the San Francisco-based bank — he knew where to look for answers.
Among the allegations in the lawsuit is that the bank used the accounts to secretly process electronic funds transfers in a money-laundering scheme. Purported victims’ identity information and banking balance and transaction histories going back years are described as “valuable consumer data for Wells Fargo, which specializes in marketing its financial products to consumers.”
In June 2022, Patterson received a monthly checking account statement from Wells Fargo, for an account showing a $12 balance, the lawsuit alleges. He called the bank, and a staffer told him the account was opened three months earlier, then transferred him to a representative who said the bank would freeze the account, but did not provide further information, according to the lawsuit. A week later he received a letter from the bank acknowledging he had not opened the account, the lawsuit said.
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