Wednesday, February 20, 2008

$5.8 million in your bank account... just kidding!

Some poor guy is now facing 25 years behind bars because he blew $2 million of a "surprise account". What, you might ask, is a "surprise account"? Well, it's when Commerce Bank, the bank I use by the way, tells a man making a $400 deposit that, oh, look, did you know you also have this other account with $5.8 million in it?

To his credit, he spoke with the bank manager and teller, insisting that it wasn't his. They insisted that it was, and told him to go spend it. So our economy being in the gutter that it grows in, he invests it in futures, loses half a million there, gives away $10K to family, and goes on a shopping spree that covers everything from dental implants to colonics.

Apparently Commerce Bank messed up the Social Security numbers of two men with the same name. Four weeks later, the real account owner reads the bank statements and notices the $2 million bank drain. And now this KeySpan Engergy salesman is being charged with grand larceny.

The moral of the story, aside from always check your bank statements, is that if you find $5.8 million anywhere, for the love of god just leave it alone and call the police. And stay away from futures.

4 comments:

Ms. M&P said...

Oh my god. I can't help but laugh and it's making me feel bad. That poor guy! I hope he withdrew enough cash to hire a good attorney. The bank should really bail him out even though he was kind of crazy for thinking it was all his. Still, if the bank insisted I had $5.8 million, it would be really hard to argue with them.

Mrs. Micah said...

Wow. Oh my gosh. I mean, he's got a good story...hopefully he can present that well to the jury.

The bank should be forced to pay that back with insurance. That's why they have insurance.

I mean, yeah you don't spend random money....but the bank is clearly the one with the problem here.

Anonymous said...

This actually happened to me as well, I would hope the attorney would contact me at ajaxone421@aol.com to talk to me about this. Although this was for a less amount and I didn't spend it, the bank had the same attitude with me at the time. By law it turned out that the money was mine and no criminal charges could be filed. Only a civil law suit. That wasn't necessary as I returned all the money. I still find this whole story incredible as the bank made the mistake, not the person who received the money. He shouldn't have spend it though.

dong said...

Yeah I feel bad for the guy though he clearly shouldn't blown the money like he did. He should've just transferred it into a safe high interest account....
The bank should bear some responsibility, and certainly shouldn't be a criminal case if he checked with the bank. Always have documentation.

The more curious question who was the other guy who didn't notice he was missing 5.8 million until 4 weeks later...