RICHFIELD, Idaho (AP) — A southern Idaho man who thought he had rediscovered a fortune in long-lost certificates of deposit has been told by a bank the CDs are worthless.
Bill Coffey says an attorney for Wells Fargo sent him a letter earlier this month stating it was impossible to determine whether the CDs had already been cashed.
The former miner and rancher says he will hire an attorney if the bank doesn't pay him the value of the CDs, which he estimates $600,000.
Coffey tells The Times-News he bought about $290,000 of the interest-earning CDs from a bank in Rio Rancho, N.M., in 1979.
That bank was then bought by Wells Fargo in 1999.
Lara Underhill is a regional communications director for Wells Fargo. She says she can't comment about the CDs due to customer confidentiality.
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Information from: The Times-News, http://www.magicvalley.com
