A Middle Georgia checking account is overdrawn by nearly $200K. Now Wells Fargo is suing
Wells Fargo Bank is suing a Milledgeville man who owns a checking account that’s overdrawn by nearly $200,000.
The bank is asking a federal judge to order Jeffrey D. Yount to repay the funds.
Wells Fargo said in the lawsuit that Yount received two online transfers of $99,000 each in September 2022.
Shortly after receiving the money, he transferred $97,000 to a Silvergate Bank account and $96,000 to a JP Morgan Chase Bank account, while also making multiple debit card purchases.
Wells Fargo says it later learned the $99,000 transfers into Yount’s account were “unauthorized.” They were later reversed, which “caused the Yount account to become overdrawn in the amount of $197,913.98 and Wells Fargo to suffer a loss.”
“Yount has been unjustly enriched at Wells Fargo’s expense,” the lawsuit says.
Yount has not yet repaid the money transferred out of his bank account, Wells Fargo says.
Wells Fargo is suing Yount for a violation of its account agreement with customers, which requires them to cover overdraft losses. It is asking for a judge to order repayment plus interest, and for Yount to cover the bank’s legal fees.
A lawsuit represents only one side of a legal argument.
