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Bank error... in your favor

r464

Turbo Monkey
Oct 17, 2006
2,608
0
Earth
Who hasn't hoped that they would suddenly find millions in their bank account?

NEW YORK (Reuters) - A New York man who discovered that millions of dollars had mysteriously appeared in his bank account, and withdrew more than $2 million, has been arrested on charges of grand larceny, prosecutors said on Wednesday.

Benjamin Lovell, 48, pleaded innocent on Tuesday to charges that he withdrew money from a Commerce Bank account that had been opened by someone with the same name, prosecutors said.

The account belonged to Woodlawn Trustees Inc, a Delaware property management company, and was listed under the name of its finance director, who is also named Benjamin Lovell, court papers said.

Lovell had just $800 in his own Commerce Bank account when he went to make a deposit, but a teller, mistaking the Woodlawn account for Lovell's personal account, told him that his account contained more than $5 million, prosecutors said.

Lovell made multiple withdrawals even though he knew that the money was not his, prosecutors said. He used the money to buy jewelry for his girlfriend and to make several investments, they said.

Commerce Bank and Woodlawn Trustees did not immediately respond to a request for comment. The Legal Aid attorney representing Lovell could not be reached for comment either.

Lovell is being held on $3 million bail. He faces up to 25 years behind bars if convicted, prosecutors said.
 

drkenan

anti-dentite
Oct 1, 2006
3,443
0
west asheville
I read that article the other day and to the guy's credit, he DID report it to the bank and they told him it was his. I'd say lesson learned - why does he need to do 25 yrs for that??
 

brungeman

I give a shirt
Jan 17, 2006
5,173
0
da Burgh
I think the Banker should go to jail!...

plus... who knows his "investments" may pan out and make some money... in that case he deserves a cut of the profits!
 

kev211

Monkey
Jan 22, 2008
320
0
San Diago
I read that article the other day and to the guy's credit, he DID report it to the bank and they told him it was his. I'd say lesson learned - why does he need to do 25 yrs for that??
Im with you. If the bank fvcks up then he shouldnt have to pay for it. I think the teller should be fired instead
 

Ciaran

Fear my banana
Apr 5, 2004
9,844
11
So Cal
Because he spent money which wasn't his. Does it get much simpler than that? :disgust1:
:stupid:
Yeah, we're not talking about a 25 dollar bank fee that was mistakenly reversed. When 5 million dollars shows up in your account it's only a matter of time before the actual owner comes looking for it. Spending it is just stupid.

Not sure if his stupidity really deserves 25 years though. Seems kind of excessive.
 

valve bouncer

Master Dildoist
Feb 11, 2002
7,791
35
Japan
Sounds like the bloke got 5 years for the crime and 20 for being a moron. As if they weren't going to come looking for it.:disgust: