Oops bank gives away 5 million.

**Mike325** · 02-20-2008, 04:24 PM

The guy who was not rich said that is was not his money, but the bank said that it was and he could take it. I think the bank should be totally at fault for that mistake. They let him steal it. The guy is pretty dumb for loosing most of it though.

**Jean** · 02-20-2008, 04:29 PM

How do you spend 2mill w/o having anything to show for.. he probably is trying to pull a fast one and stashed half of it away....

**CorvallisBMW** · 02-20-2008, 04:40 PM

I figure the bank is responsible for their own loss. If he tried to be a good citizen and tell the bank that it was not his, yet they refused to listen, it's not his fault. He was given permission to withdraw the funds and so he did. It's not his fault the bank fucked up.

**z31maniac** · 02-20-2008, 04:44 PM

Originally posted by CorvallisBMW

I figure the bank is responsible for their own loss. If he tried to be a good citizen and tell the bank that it was not his, yet they refused to listen, it's not his fault. He was given permission to withdraw the funds and so he did. It's not his fault the bank fucked up.

If he was a good citizen, he wouldn't have taken the money.

I know exactly how much money is in my checking account right now, and I'm pretty sure if they told me I told $2mil+ to withdraw I would know there is a mistake.

He took advantage thinking he wouldn't get caught and he did.

**TwoJ's** · 02-20-2008, 04:49 PM

Did you even read it? It says the bank told him it was his and he should withdraw if he wants..

**parkerbink** · 02-20-2008, 04:51 PM

Originally posted by CorvallisBMW

I figure the bank is responsible for their own loss. If he tried to be a good citizen and tell the bank that it was not his, yet they refused to listen, it's not his fault. He was given permission to withdraw the funds and so he did. It's not his fault the bank fucked up.

Lets test your theory. Wire all your money to my account, I'll tell the bank it's not mine, they'll say it is, I'll spend it.

See what I mean?

It's one thing if it was a few bucks but millions? come on. I know what is mine and if it changed dramatically I'd know.

**z31maniac** · 02-20-2008, 06:45 PM

Originally posted by TwoJ's

Did you even read it? It says the bank told him it was his and he should withdraw if he wants..

Yes I did actually.

So TwoJ's, lets say that you know for a fact right now you have, I don't know, $2500 in your checking account. You go to the bank tomorrow to withdraw some money and they tell you that you have $2,002,500, in your bank account. You know you didn't put that money in there and its an obvious mistake.

If you go ahead and withdraw that money, you are KNOWINGLY taking money that you know is not yours, regardless if its the fault of a clerical mistake.

**LEANE30** · 02-20-2008, 06:53 PM

i don't know,... if i was the rich Lovell i would sue the bank directly for the money. as far as i would be concerned, the poor guy just won the lottery, and it should in no way effect my personal accounts. ...that would REALLLLLLLY piss me off if they allowed someone who did not know my social security number OR my account numbers but only, legitimately had the same name as i did take money from my account, oh man, heads would rolllllllllllllllll

i would say that the bank is at fault for not fully checking for proper identification or have used some sort of preventative protocol - sounds like the bank fucked up.

and NO ONE on this website would honestly reject 2 mil if it was just put into your hands clear and free, error or not. ...the smart ones would have used it to make money in risk-free ventures just in case it backfired and came back to them.

the purpose of placing your money in a bank is so that it is safe and only you will have access to it. that is the banks function. it's the banks fault, legally, not the guy who took advantage of a prime "clerical mistake" - ethical or not

**parkerbink** · 02-20-2008, 07:21 PM

Originally posted by LEANE30

i don't know,... if i was the rich Lovell i would sue the bank directly for the money. as far as i would be concerned, the poor guy just won the lottery, and it should in no way effect my personal accounts. ...that would REALLLLLLLY piss me off if they allowed someone who did not know my social security number OR my account numbers but only, legitimately had the same name as i did take money from my account, oh man, heads would rolllllllllllllllll

i would say that the bank is at fault for not fully checking for proper identification or have used some sort of preventative protocol - sounds like the bank fucked up.

and NO ONE on this website would honestly reject 2 mil if it was just put into your hands clear and free, error or not. ...the smart ones would have used it to make money in risk-free ventures just in case it backfired and came back to them.

the purpose of placing your money in a bank is so that it is safe and only you will have access to it. that is the banks function. it's the banks fault, legally, not the guy who took advantage of a prime "clerical mistake" - ethical or not

Cause & effect. The bank made a mistake and owes the rightful account holder the money. They have to go after the person that took it.

Honest people return things that are not theirs, in this case it was easy. Don't take it, leave it alone and make sure the bank knew about the mistake.

Rationalization is great but at the end of the day stealing is taking that which is not yours, I bet this guy gets a long time to think on that in prison.

**Dave** · 02-20-2008, 07:31 PM

I am sure NY law is similar to Ohio law which says:

No person, with purpose to deprive the owner of property or services, shall knowingly obtain or exert control over either the property or services in any of the following ways:

(1) Without the consent of the owner or person authorized to give consent;

Bingo - he deprived the rightful owner of the money without the rightful owner's consent.

**z31maniac** · 02-21-2008, 03:42 AM

Originally posted by LEANE30

i

and NO ONE on this website would honestly reject 2 mil if it was just put into your hands clear and free

Sure seems clear and free.........I mean he's only going to jail.

**Shoomakan** · 02-21-2008, 04:37 AM

I bet that if he didn't take the money, so that he wouldn't sue or cause problems, the bank would have given him a little bonus. That happens all the time.

Having said that, I would have taken it and thrown 4 million into every R3V'ers car, anyone gonna complain about that? :D

**moatilliatta** · 02-21-2008, 05:01 AM

I would have blown it all.

**TwoJ's** · 02-21-2008, 09:33 AM

Originally posted by Dave

I am sure NY law is similar to Ohio law which says:

Bingo - he deprived the rightful owner of the money without the rightful owner's consent.

Read bolded statement. As soon as the bank told him to withdraw it, it became their fault.

Originally posted by parkerbink

http://news.yahoo.com/s/ap/20080220/...kLNTgRTO.s0NUE

NEW YORK - A man was charged with withdrawing $2 million from an account after a bank confused him with a man who has the same name. Benjamin Lovell was arraigned Tuesday on grand larceny charges. The 48-year-old salesman said he tried to tell officials at Commerce Bank in December that he did not have a $5 million account.

Lovell said he was told it was his and he could withdraw the money.
Prosecutors said the bank — which advertises itself as America's Most Convenient Bank — confused Lovell with a Benjamin Lovell who works for a property management company.
The lesser-funded Lovell gave away some of the withdrawn money and blew some of it on gifts, but lost much of it on bad investments, prosecutors said.
The district attorney's office did not immediately have information on his lawyer. Calls left with Commerce Bank on Wednesday were not immediately returned.

Oops bank gives away 5 million.

Oops bank gives away 5 million.

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment

Comment