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(Independent)   Bank error in your favor, collect $8,000,000. Now go directly to jail, do not pass Go, and do not collect $200   (independent.co.uk) divider line 69
    More: Followup, home detention, collects, party favors, Ian McEwan, prisons, Kara Hurring  
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12877 clicks; posted to Main » on 25 Aug 2012 at 4:24 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-08-25 12:03:57 AM  
I find it hard to muster any tears when it's a private citizen ripping off a bank. Usually it's the other way round.
 
2012-08-25 12:35:35 AM  
i.imgur.com
 
2012-08-25 12:58:11 AM  
But what happened to the $4,000,000?
 
2012-08-25 04:29:32 AM  

jaylectricity: But what happened to the $4,000,000?


Ah! Ah! Aahhh! Look with your eyes, not your hands.
 
2012-08-25 04:30:59 AM  
The bank made the mistake, shouldn't the bank be held accountable for transferring money to someone who doesn't deserve it? The guy didn't hack into the bank's computers and gave himself millions. The guy didn't bribe anyone to commit that "mistake". If you put food on my plate I'd eat the food. If you put money in my piggy bank that's not my fault.

Everytime a banking mistake like this happens, the bank should be fined because people are not expecting to have their money misplaced and mishandled (even if that's the common crap happening right now).
 
2012-08-25 04:32:09 AM  
Clerical errors are not superseded the "finders keepers" rule.
 
2012-08-25 04:33:05 AM  
Presuming that he gets to keep the money, 5ish years in prison is probably not a bad thing.

You know assuming the girl doesn't spend it all.
 
2012-08-25 04:33:07 AM  
no sympathy for either party here. The guy should have known better and the bank, well i have strong opinions on what should happen in the case of bank errors.
 
2012-08-25 04:35:39 AM  
Uhm.

Was less giving cash (digital or otherwise) tot he guy, and more giving him a line of credit for 10 million... and then him taking 8 million out and fleeing the country. THAT is a crime, commonly called Fraud. He wasn't charged with reviving an accidental 10 million line of credit.

/Came here all ready to be outraged, too
 
2012-08-25 04:36:28 AM  
Recieving I should not depend on spellcheck at this our.

Too much blood in my caffine stream, and the world is in 3 blurs, not the normal two
 
2012-08-25 04:38:09 AM  

GreenSun: The bank made the mistake, shouldn't the bank be held accountable for transferring money to someone who doesn't deserve it? The guy didn't hack into the bank's computers and gave himself millions. The guy didn't bribe anyone to commit that "mistake". If you put food on my plate I'd eat the food. If you put money in my piggy bank that's not my fault.

Everytime a banking mistake like this happens, the bank should be fined because people are not expecting to have their money misplaced and mishandled (even if that's the common crap happening right now).


Sure, so long as you are ok with finders keepers on the other side, if the bank accidentally takes money from you they shouldn't have and gives it to someone else, they get to keep it, they don't give it back to you. If that's not ok, then you have to be ok with them taking money back given in error.
 
2012-08-25 04:52:00 AM  
I remember this story, I can't believe that they caught him so fast and easily. Must have done it in a really stupid way, like transferring all his money and then buying stuff in the same city under his name while keeping it in the same account he transferred it to.
 
2012-08-25 05:07:46 AM  
images1.wikia.nocookie.net
 
2012-08-25 05:09:04 AM  

GreenSun: The bank made the mistake, shouldn't the bank be held accountable for transferring money to someone who doesn't deserve it? The guy didn't hack into the bank's computers and gave himself millions. The guy didn't bribe anyone to commit that "mistake". If you put food on my plate I'd eat the food. If you put money in my piggy bank that's not my fault.

Everytime a banking mistake like this happens, the bank should be fined because people are not expecting to have their money misplaced and mishandled (even if that's the common crap happening right now).


If you accidentally overpay a bill or a debt, should the other party be allowed to keep it?
 
2012-08-25 05:10:00 AM  
Seize the day.
 
2012-08-25 05:11:22 AM  
He should have invested the money safely so he could return the principal once the error was pointed out and keep the nice profits from the interest.
 
2012-08-25 05:16:05 AM  

sycraft: GreenSun: The bank made the mistake, shouldn't the bank be held accountable for transferring money to someone who doesn't deserve it? The guy didn't hack into the bank's computers and gave himself millions. The guy didn't bribe anyone to commit that "mistake". If you put food on my plate I'd eat the food. If you put money in my piggy bank that's not my fault.

Everytime a banking mistake like this happens, the bank should be fined because people are not expecting to have their money misplaced and mishandled (even if that's the common crap happening right now).

Sure, so long as you are ok with finders keepers on the other side, if the bank accidentally takes money from you they shouldn't have and gives it to someone else, they get to keep it, they don't give it back to you. If that's not ok, then you have to be ok with them taking money back given in error.


The bank already stole all of my money with their draconian overdraft penalties, returned check fees, and late payment fines! I don't know who they gave it to, but I'm sure it was some 1%'er who wanted to see a .005% bump in his stock price. We need to prosecute the banks and have all of those illegal fines and penalties repaid to the consumers with huge bank penalties added on top. $8 million is nothing to these these pot bellied pigs who eat day and night from an auto-feeder stuffed with greasy cash. I truly believe that when Obama gets his second term, he's going to show all of us a huge windfall, stripped from the hide of huge bank profits. If you are losing faith in him, then please please please renew your belief for four more years. Salvation is coming!
 
2012-08-25 05:19:49 AM  
... You know, if 8 mil suddenly appeared in my bank account, I'd be real tempted to cash out and flee the country, too. I'd like to think I'd be smart enough to go to a non-extradition country, though. Somewhere nice and warm.
 
2012-08-25 05:36:29 AM  

starsrift: ... You know, if 8 mil suddenly appeared in my bank account, I'd be real tempted to cash out and flee the country, too. I'd like to think I'd be smart enough to go to a non-extradition country, though. Somewhere nice and warm.


Yeah. It wouldn't be that hard to disappear. I'm fairly surprised that China was willing to extradite him in this case, though. I would have expected them to toss him in a cell, pocket the 8 mil, and say, "What money?" when NZ came calling.
 
2012-08-25 05:36:29 AM  
It's not like the bank gave him the money. He asked for an overdraft, and received an overdraft larger than he asked for. He was still aware it was an overdraft, and that everything he took out of it was owed back to the bank (with interest).

He chose to borrow everything he could, then do a runner, and even now AFAICR the bank has only recouped about 80% of what he took.

He's a criminal, pure and simple. Even in cloud cuckoo land, he can't in any way claim he thought he was entitled to keep the money free of charge.
 
2012-08-25 05:38:07 AM  

Z-clipped: I'm fairly surprised that China was willing to extradite him in this case, though. I would have expected them to toss him in a cell, pocket the 8 mil, and say, "What money?" when NZ came calling.


Hong Kong. One country, two systems. And a rather better system than the mainland one.
 
2012-08-25 05:43:46 AM  

Summercat: Uhm.

Was less giving cash (digital or otherwise) tot he guy, and more giving him a line of credit for 10 million... and then him taking 8 million out and fleeing the country. THAT is a crime, commonly called Fraud. He wasn't charged with reviving an accidental 10 million line of credit.

/Came here all ready to be outraged, too


bank fraud lol
 
2012-08-25 05:44:45 AM  

gweilo8888: It's not like the bank gave him the money. He asked for an overdraft, and received an overdraft larger than he asked for. He was still aware it was an overdraft, and that everything he took out of it was owed back to the bank (with interest).

He chose to borrow everything he could, then do a runner, and even now AFAICR the bank has only recouped about 80% of what he took.

He's a criminal, pure and simple. Even in cloud cuckoo land, he can't in any way claim he thought he was entitled to keep the money free of charge.


but banks can do the same
lol idiot
 
2012-08-25 05:45:44 AM  

farkityfarker: He should have invested the money safely so he could return the principal once the error was pointed out and keep the nice profits from the interest.


invested it safely in a bank
lol
 
2012-08-25 05:47:55 AM  
ok i'm done replying, but i find it humorous that so many farkers are on the side of the 'legitimate' victim
 
2012-08-25 05:51:12 AM  

gweilo8888: Z-clipped: I'm fairly surprised that China was willing to extradite him in this case, though. I would have expected them to toss him in a cell, pocket the 8 mil, and say, "What money?" when NZ came calling.

Hong Kong. One country, two systems. And a rather better system than the mainland one.


Huh... I just assumed that when China got back control of Hong Kong, it would have come under the same umbrella. Two different sets of international policies, you say? Whaddya know- I learned something new today. Thanks.
 
2012-08-25 05:58:13 AM  

Z-clipped: gweilo8888: Z-clipped: I'm fairly surprised that China was willing to extradite him in this case, though. I would have expected them to toss him in a cell, pocket the 8 mil, and say, "What money?" when NZ came calling.

Hong Kong. One country, two systems. And a rather better system than the mainland one.

Huh... I just assumed that when China got back control of Hong Kong, it would have come under the same umbrella. Two different sets of international policies, you say? Whaddya know- I learned something new today. Thanks.


Amazingly someone had the foresight that destroying a powerhouse economy probably wasn't in their best interest
 
2012-08-25 06:02:21 AM  

spentmiles: sycraft: GreenSun: The bank made the mistake, shouldn't the bank be held accountable for transferring money to someone who doesn't deserve it? The guy didn't hack into the bank's computers and gave himself millions. The guy didn't bribe anyone to commit that "mistake". If you put food on my plate I'd eat the food. If you put money in my piggy bank that's not my fault.

Everytime a banking mistake like this happens, the bank should be fined because people are not expecting to have their money misplaced and mishandled (even if that's the common crap happening right now).

Sure, so long as you are ok with finders keepers on the other side, if the bank accidentally takes money from you they shouldn't have and gives it to someone else, they get to keep it, they don't give it back to you. If that's not ok, then you have to be ok with them taking money back given in error.

The bank already stole all of my money with their draconian overdraft penalties, returned check fees, and late payment fines! I don't know who they gave it to, but I'm sure it was some 1%'er who wanted to see a .005% bump in his stock price. We need to prosecute the banks and have all of those illegal fines and penalties repaid to the consumers with huge bank penalties added on top. $8 million is nothing to these these pot bellied pigs who eat day and night from an auto-feeder stuffed with greasy cash. I truly believe that when Obama gets his second term, he's going to show all of us a huge windfall, stripped from the hide of huge bank profits. If you are losing faith in him, then please please please renew your belief for four more years. Salvation is coming!


.
You sound like a person that commits a lot of fraud.
 
2012-08-25 06:09:27 AM  

spentmiles: The bank already stole all of my money with their draconian overdraft penalties, returned check fees, and late payment fines!


l2manage your finances.
 
2012-08-25 06:28:40 AM  
ADALIMUMAB
 
2012-08-25 06:34:47 AM  
bbsimg.ngfiles.com
 
2012-08-25 06:49:12 AM  

SamFlagg: You know assuming the girl doesn't spend it all.


What sort of universe are you from?
 
2012-08-25 07:11:22 AM  
I'm not saying I'm on his side, but I most likely would do something similar given the opportunity. Assuming I'm not in a financially stable state beforehand.
 
2012-08-25 07:20:52 AM  
Fraudian slip?
 
2012-08-25 07:46:25 AM  

david_gaithersburg: spentmiles: sycraft: GreenSun: The bank made the mistake, shouldn't the bank be held accountable for transferring money to someone who doesn't deserve it? The guy didn't hack into the bank's computers and gave himself millions. The guy didn't bribe anyone to commit that "mistake". If you put food on my plate I'd eat the food. If you put money in my piggy bank that's not my fault.

Everytime a banking mistake like this happens, the bank should be fined because people are not expecting to have their money misplaced and mishandled (even if that's the common crap happening right now).

Sure, so long as you are ok with finders keepers on the other side, if the bank accidentally takes money from you they shouldn't have and gives it to someone else, they get to keep it, they don't give it back to you. If that's not ok, then you have to be ok with them taking money back given in error.

The bank already stole all of my money with their draconian overdraft penalties, returned check fees, and late payment fines! I don't know who they gave it to, but I'm sure it was some 1%'er who wanted to see a .005% bump in his stock price. We need to prosecute the banks and have all of those illegal fines and penalties repaid to the consumers with huge bank penalties added on top. $8 million is nothing to these these pot bellied pigs who eat day and night from an auto-feeder stuffed with greasy cash. I truly believe that when Obama gets his second term, he's going to show all of us a huge windfall, stripped from the hide of huge bank profits. If you are losing faith in him, then please please please renew your belief for four more years. Salvation is coming!

.
You sound like a person that commits a lot of fraud.



I just thought of a brilliant way to keep those pesky 1%ers from stealing your money and lining their pockets.
1) Don't overdraft your damn account.
2) Don't write bad checks
3) Make your bloody payments on time.

See how that works. You don't pay any penalties and keep more of your money, and they get less of it.
 
2012-08-25 07:55:08 AM  

GreenSun: The bank made the mistake, shouldn't the bank be held accountable for transferring money to someone who doesn't deserve it? The guy didn't hack into the bank's computers and gave himself millions. The guy didn't bribe anyone to commit that "mistake". If you put food on my plate I'd eat the food. If you put money in my piggy bank that's not my fault.

Everytime a banking mistake like this happens, the bank should be fined because people are not expecting to have their money misplaced and mishandled (even if that's the common crap happening right now).


I agree. If the bank commits an error in their favor, good luck getting them to correct it
 
2012-08-25 08:00:27 AM  

Candygram for Mongo: I just thought of a brilliant way to keep those pesky 1%ers from stealing your money and lining their pockets.
1) Don't overdraft your damn account.
2) Don't write bad checks
3) Make your bloody payments on time.

See how that works. You don't pay any penalties and keep more of your money, and they get less of it.


And the bank will not have to hire an extra person to manually process all those invalid transactions.
 
2012-08-25 08:10:28 AM  
Kneecap Louie doesn't know anything about extradition.
 
2012-08-25 08:14:25 AM  

Candygram for Mongo: See how that works. You don't pay any penalties and keep more of your money, and they get less of it.


Hey wiseass, banks often systematically manipulate the timing and method of transactions in order to cause things like overdrafts, specifically so they can collect bogus fees from customers.

I don't personally understand why people don't move their money elsewhere the moment they find out their bank is crooked (Bank of America started screwing with my electronic payments, and one Customer Service call later I had my money in a smaller, more responsible bank), but that doesn't excuse you being an arrogant little pissant.
 
2012-08-25 08:17:27 AM  

Z-clipped: Candygram for Mongo: See how that works. You don't pay any penalties and keep more of your money, and they get less of it.

Hey wiseass, banks often systematically manipulate the timing and method of transactions in order to cause things like overdrafts, specifically so they can collect bogus fees from customers.

I don't personally understand why people don't move their money elsewhere the moment they find out their bank is crooked (Bank of America started screwing with my electronic payments, and one Customer Service call later I had my money in a smaller, more responsible bank), but that doesn't excuse you being an arrogant little pissant.


www.christianforums.com
 
2012-08-25 08:21:33 AM  
I wouldn't call it a 'conspiracy', but I do think banks tend to bend or overlook the rules, when they benefit
 
2012-08-25 08:25:24 AM  

david_gaithersburg: Z-clipped: Candygram for Mongo: See how that works. You don't pay any penalties and keep more of your money, and they get less of it.

Hey wiseass, banks often systematically manipulate the timing and method of transactions in order to cause things like overdrafts, specifically so they can collect bogus fees from customers.

I don't personally understand why people don't move their money elsewhere the moment they find out their bank is crooked (Bank of America started screwing with my electronic payments, and one Customer Service call later I had my money in a smaller, more responsible bank), but that doesn't excuse you being an arrogant little pissant.


Actually that part was true.there is a class action suit against Chase right now for that very thing.
 
2012-08-25 08:32:59 AM  
Hurring was sentenced yesterday to nine months of home detention.
www.bignatebooks.com
 
2012-08-25 08:35:16 AM  

p the boiler: Actually that part was true.there is a class action suit against Chase right now for that very thing.


My credit union processes deposits before the withdrawals, why create problems where no one wins.
 
2012-08-25 08:37:07 AM  
Nearly five years in prison for transgressing against a bank. Do not piss off our financial overlords, peasants.
 
2012-08-25 08:38:02 AM  

david_gaithersburg: Z-clipped: Candygram for Mongo: See how that works. You don't pay any penalties and keep more of your money, and they get less of it.

Hey wiseass, banks often systematically manipulate the timing and method of transactions in order to cause things like overdrafts, specifically so they can collect bogus fees from customers.

I don't personally understand why people don't move their money elsewhere the moment they find out their bank is crooked (Bank of America started screwing with my electronic payments, and one Customer Service call later I had my money in a smaller, more responsible bank), but that doesn't excuse you being an arrogant little pissant.



They process from largest check to smallest check. If you did not bounce a check, (learn to manage your money), you would not have a problem. You crying because you cannot manage money, does not get sympathy from I.
 
2012-08-25 08:43:34 AM  

Suede head: Nearly five years in prison for transgressing against a bank. Do not piss off our financial overlords, peasants.


Aww. Redistribution of Wealth a lot trickier than you thought?
www.blakeneymanor.com
 
2012-08-25 09:01:39 AM  

farkityfarker: He should have invested the money safely so he could return the principal once the error was pointed out and keep the nice profits from the interest.


Yeah, except for the fact that it was a line of credit, so he'd be charged interest from the second he drew upon the line of credit. Unless of course, he could invest it wisely enough to get a return exceeding the LoC interest rate.
 
2012-08-25 09:02:16 AM  
GreenSun: The bank made the mistake, shouldn't the bank be held accountable for transferring money to someone who doesn't deserve it? The guy didn't hack into the bank's computers and gave himself millions. The guy didn't bribe anyone to commit that "mistake". If you put food on my plate I'd eat the food. If you put money in my piggy bank that's not my fault.

Everytime a banking mistake like this happens, the bank should be fined because people are not expecting to have their money misplaced and mishandled (even if that's the common crap happening right now).

Honestly, if you can't RTFA and understand what a line of credit is, don't breed.
 
2012-08-25 09:05:31 AM  
I have intentionally not favorited spentmiles so that I don't have the surprise ruined for me. Masterful.
 
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