So basically he stole $1.5M from the bank, and they are recommending 15 months in prison...what a joke! He should be getting 15 years in prison.
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Would the casinos have to return at least some of the money to the bank because they know they received stolen property? If someone stole $1.5 million, gave it to me, then he got caught and told the cops I have it, I am certain I won't get to keep the money. But in this instance it looks like the casinos win here too.
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I am guessing they have to return it. I know when a place like a pawn shop gets stolen goods they have to return them...can't see this being much different.
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I am guessing they have to return it. I know when a place like a pawn shop gets stolen goods they have to return them...can't see this being much different.
What if he lost it playing poker? It'd be a nightmare trying to track down the players he lost that stack to.
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You mean he didn't turn it into 5m?
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Wow second article in a few weeks about bank error giving someone access to money that's not theirs.
I do agree that as soon as you realize an error is or has occurred you should not spend the money and contact the bank or whoever as spending it is totally not right. However I completely agree with the article placing some of the blame on the bank. It seems to me that banks primary function is the safe guard the money its members place with it, when it fails to do so there should be consequences for said bank. I realize that dealing with the whole thing is costing them plenty but it does not seem like it costs them enough to put into place better safeguards.
Once I had my debit card get put on ice because I made a couple larger withdrawals than normal and had to call the bank to get it turned back on and that was me trying to get money that was actually mine. And yet, they don't notice someone withdrawing 1.5 mil over 15 days doesn't raise a single flag anywhere? seriously?
Its almost like an inside job, I mean I know its not but go with me for a minute. If a bank employee where to help someone rob his bank, they would both be charged with bank robbery. Yet when a bank fails to have adequate systems and safe guards in place, that failure which results in someone being permitted to withdrawal hundreds of thousands of dollars its all his fault. Its not like this guy was using stolen ATM Card's or #'s or hacking... He put his own ATM card in and out popped the money. Just does not seem right.
Now that being said some of the security measures banks do employ are super inconvenient as it is, so in my eyes they really need to think outside the box for a new solution. Or actually put up some money to design and deploy a better solution. If I had to predict, they wont until the federal government makes them via mandate or similar.
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maybe he thought it was a monopoly play card?
bank error in your favor, collect $15
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Fixed that for ya.
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I agree that the bank should be held responsible. What would happen if this was a small bank or credit union? Some credit unions don't even have $1 miilion.
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Here's the problem with that...the bank didn't knowingly glitch their system to allow this guy access to the money. I am guessing that whatever glitch that was allowing him to withdraw the money was also not causing a red flag to be raised. Obviously, has they known there was an issue they would have shut it down immediately. But the guy absolutely did know he was taking money that wasn't his. And what makes it worse is that he did he multiple times over multiple days...I mean if it was once you can say a lapse in judgement, but over 7 days. He knew he was stealing, and yet continued to do it anyway.