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Wells Fargo sued over allegedly committing fraud and using deceptive business practices

By Whitney Brakken | Nov 26, 2013

A Wisconsin man is suing over claims Wells Fargo committed fraud.

William Griffis filed a lawsuit Oct. 22 in the Circuit Court of Cook County against Wells Fargo Advisors LLC and Kevin Dailey, citing fraud in inducement, intentional misrepresentation, tortious interference with business relations and deceptive business practices.

According to the suit, Dailey solicited Griffis to join Wells Fargo as a financial advisor from October 2011 to early December 2011. After he began working there, the complaint states Griffis discovered Dailey's representations were false.

Griffis claims the office had deplorable working conditions, he was never provided with an integration specialist, there was no existing business for him to take over, he was told he could not transfer branches and Wells Fargo Advisors did not have an incentive program to refer business to its financial advisors.

As a result, the suit states Griffis left Wells Fargo on Sept. 13, 2013, and on Sept. 24, 2013, Wells Fargo immediately demanded the amount due and remaining on the promissory note, according to the complaint.

In addition, the complaint states that on Sept. 27, 2013, Wells Fargo sent out letters to some of the plaintiff's clients on Wells Fargo Advisors letterhead and signed the plaintiff's name, to which Griffis never consented.

The plaintiff is seeking an undisclosed amount in damages and is  represented by Elliot Richardson and Ryan D. Gibson of Korey Cotter Heather & Richardson LLC in Chicago.

Circuit Court of Cook County Case No. 2013L011685.

This is a report on a civil lawsuit filed in the Circuit Court of Cook County. The details in this report come from an original complaint filed by a plaintiff. Please note, a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it only represents one side of the story.

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