Detroit Man Gambles Away $1.5 Million Accidentally Given by ATM

[Old Moparz]

First thing, I always thought that ATM's had limits but I guess not. 

The banks have been gambling away money INTENTIONALLY for years & they get upset at what this guy did? Now I don't condone thievery, but with this story, I almost want to make an exception.    

For some reason I'm not sure I completely buy the part that he gambled it all away. Maybe he has it stashed somewhere for later. Then again, if he thought he was smart enough to get away with it & never thought that the error would catch up to him, then maybe he is simply dumb enough to gamble with it until it was all gone.   

If an ATM gave me $1.5 million I sure as hell wouldn't be in a casino with it. 

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http://news.yahoo.com/blogs/sideshow/detroit-man-gambles-away-1-5-million-accidentally-191619543.html

Detroit Man Gambles Away $1.5 Million Accidentally Given by ATM

Ronald Page seemingly had it made when Bank of America unintentionally changed his account status, allowing the 55-year-old man to make unlimited ATM cash overdraft withdrawals. But ABC News reports that Page, who in reality had only $300 in his checking account, used the accidental loophole to withdraw more than $1.5 million—losing it all on gambling.

And even worse for Page, the U.S. Attorney's Office in Detroit says he is now facing 15 months in prison after pleading guilty to charges of theft of bank funds, $1,543,104 in total between December 1, 2008 and May 31, 2009. "In this case, the bank's glitch allowed the defendant to lose a significant amount of money that was not even his in the first place," reads the U.S. Attorney's sentencing memorandum, obtained by ABC. "The fact that defendant acted on an impulse does not minimize the seriousness of his conduct and the need for a custodial sentence."

The day the Bank of America glitch went into effect, Page reportedly withdrew $312,000 from ATMs at the Greektown Casino in Detroit and an additional $51,727 from the MGM Grand Casino. Bank of America placed a hold on his account 17 days later, but he had already withdrawn $1.5 million by that point. The glitch reportedly occurred because Page originally had a banking account with LaSalle Bank. When Bank of America acquired LaSalle, the glitch somehow occurred while the two banking institutions were transferring account information.

Page, who does not have a prior record, could have faced a steeper sentence but prosecutors said his crime was a "lapse of judgment" and placed blame with Bank of America for allowing the withdrawals to take place.
In addition to the recommended 15-month sentence and order to repay the funds, the U.S. Attorney's Office has suggested that Page be prohibited from gambling in any capacity.

"If his gambling addiction is not addressed, he is very likely to cause further financial hardship to himself and his family," the memorandum reads.

[Mytur Binsdirti]

Stupid is as stupid does.

[hatersaurusrex]

Wow, if all you get for that is 15 months, I'll trade right now.   Cozy little dorm room (with a new friend!), 3 squares a day, exercises, some free tattoos, and cable TV for a year.   When you get out, instant millionaire.

The only way that deal would be better is if they let your woman come around every so often and... oh wait, they do that too!  Where do I sign up?  Is this a government program?

[Indygenerallee]

Exactly, He may be playing dumb I know I would, Stash it somewhere safe and then claim I spent it on "loose slots" (both kinds  ) Then retrive it well after I had spent my time in jail. Hey I would do a couple years for 1.5 million!!!  . I am just suprised a ATM had 1.5 million in it!?

[1BAD68]

really how many ATM's does the Greektown casino have that he could get $312,000 from them in one day?

[chargerboy69]

Wow, if all you get for that is 15 months, I'll trade right now.   Cozy little dorm room (with a new friend!), 3 squares a day, exercises, some free tattoos, and cable TV for a year.   When you get out, instant millionaire.

The only way that deal would be better is if they let your woman come around every so often and... oh wait, they do that too!  Where do I sign up?  Is this a government program?

Don't for get the prison sex occurring on a daily basis.  Good stuff right there.   



Plus the guy has to pay it back.

"The U.S. Attorney's Office recommended 15 months in prison for Page and that the court order restitution to Bank of America for the $1,543,104."

http://www.theblaze.com/stories/jackpot-detroit-man-gambles-away-1-5m-after-bank-error-and-now-faces-15-months-in-prison/

[ACUDANUT]

He will never pay it back, and get away with it.  I hope he is gay

[404NOTFOUND]

"Your Honour, I didn't know it was a slot machine, I was just trying to put the money back in an ATM"

[stripedelete]

Not withstanding morals and ethics, he had the right idea:  If you are going to steal, steal big.

[bakerhillpins]

First thing, I always thought that ATM's had limits but I guess not. 

They do, and they are individually dictated by account and administered by a computer system. I believe the article even stated it was a glitch.

We all know how flawless computer systems are. 

Page, who does not have a prior record, could have faced a steeper sentence but prosecutors said his crime was a "lapse of judgment" and placed blame with Bank of America for allowing the withdrawals to take place.

And we all sit around wondering why we have so many problems in this country?    Yea, I did it, but it wasn't my fault. It was their fault for giving me the opportunity to be a f*$k-wit and a leach on society. 


   

[bull]

He will never pay it back, and get away with it.  I hope he is gay

Why? Looking for a date?

[ACUDANUT]

Yep.  No, get it...He going to Prison. Everyone takes in the rear. lol

[hatersaurusrex]

On a totally-related note, didn't Bank Of America (along with all the others) claim that it was the consumer's fault they took it up the rear on a bad mortgage and the responsibility wasn't on them to worry about technicalities?

In that case I think the title should read 'Freedom Fighter Steals Back Some Bailout Money and Gambles It All in the Name of the People' 

That said, anybody ever see Brewster's Millions?  I'm not sure why it was so hard for Richard Pryor to spend $30 Million in 30 days.  Apparently they don't have a Greektown Casino in Hackensack, NJ.

[mauve66]

richard pryor had to get somehting for everything he spent, couldn't just give it away or gamble it away

dude is 55 years old, i would hide it, do my time (nobody wants old flabby butt anyway) and let them take my social security every year for the rest of my life to get it back, whats he got left, 20 years? they might get part of it but i would be in another country living off the 1.5 mil

[mauve66]

oh yeah, non violent offender, he would probably get out in 6 months anyway due to over crowding and good behavior, i mean really, how many fights or drug deals is he going to be involved in while inside??

[Mike DC]

                  

Individual ATMs only have a couple dozen grand in them at any one time, tops.  The guy must have been hitting ATMs all around town to get that kind of cash in two weeks.




And no way could he stash the 1.5 mil and expect to live off it later.  You can't live off large amounts of stolen money without getting caught.  Not when you are a small-time loser like this guy.  Not when you pissed off & embarrassed a corporate monster bank like B/A.

I suppose the guy might be trying to do this in theory but he won't keep it a secret long.  Not even in a foreign country.  huge corporations don't stop at national borders anymore. 

[Cooter]

                 

Individual ATMs only have a couple dozen grand in them at any one time, tops.  The guy must have been hitting ATMs all around town to get that kind of cash in two weeks.




And no way could he stash the 1.5 mil and expect to live off it later.  You can't live off large amounts of stolen money without getting caught.  

Exactly....There's that little thing of trying to actually spend that 1.5 million. Ever see the movie Goodfellas? When Dude tells the rest of the gang NOT to buy anyting big and lfashy, they first thing everybody does is buy something flashy. Too much of a temptation to try and "Prove" something the to the rest of the world by buying stupid sh*t Like $250K Statues of Dolphins.

REALLY? Ever see the Lottery winners and what some of them spend huge money on? Stupid sh*t that won't EVER be worth half what they spent it on.

[stripedelete]

                 

Individual ATMs only have a couple dozen grand in them at any one time, tops.  The guy must have been hitting ATMs all around town to get that kind of cash in two weeks.




And no way could he stash the 1.5 mil and expect to live off it later.  You can't live off large amounts of stolen money without getting caught.  

Exactly....There's that little thing of trying to actually spend that 1.5 million. Ever see the movie Goodfellas? When Dude tells the rest of the gang NOT to buy anyting big and lfashy, they first thing everybody does is buy something flashy. Too much of a temptation to try and "Prove" something the to the rest of the world by buying stupid sh*t Like $250K Statues of Dolphins.

REALLY? Ever see the Lottery winners and what some of them spend huge money on? Stupid sh*t that won't EVER be worth half what they spent it on.

I agree, you would have to "wash" it slowly; gas, groceries, and travel.  But if you move to Costa Rica...............

[Todd Wilson]

                 

Individual ATMs only have a couple dozen grand in them at any one time, tops.  The guy must have been hitting ATMs all around town to get that kind of cash in two weeks.

I talked to a bud of mine whos family has a armored car biz and they take care of ATM's.   He said most ATM's depending on location and city hold between 40-80g's.   He said in big cities like Vegas and stuff where there may be a high traffic of people and or money  they can hold 100G or more and are serviced many times a day. I would imagine if he was around the casino's those ATM's probably had a lot of cash in them.


Todd

[Tilar]

Wasn't Bank of America the one that took that guys Challenger in another thread? I'd give that guy 100k and call Bank of America and tell them it's an even trade.

[69rtse4spd]

Should have blamed the wife, & plead insanity.  .

[71charger_fan]

He's getting off easy. He knew they were overdrafts when he took the money.