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Bank Mistakenly Gives Couple AU$6 Million  
User currently offlineSpringbok747 From Australia, joined Nov 2004, 4387 posts, RR: 10
Posted (5 years 4 months 3 days 10 hours ago) and read 2355 times:

Hahahhaa..this is so funny....

POLICE are looking for a couple who disappeared after a bank mistakenly put more than 6 million Australian dollars into their account.
The couple, who ran a gas station in the city of Rotorua on New Zealand's North Island, applied to Westpac Bank for a NZ$10,000 (AU$6,000) overdraft and had 1000 times that amount paid into their account.



It seems they transferred NZ$7 million into their account and skipped the country.

http://www.abc.net.au/news/stories/2009/05/22/2578492.htm


אני תומך בישראל
11 replies: All unread, jump to last
 
User currently offlineKevin From Canada, joined Dec 2000, 1144 posts, RR: 0
Reply 1, posted (5 years 4 months 2 days 13 hours ago) and read 2261 times:

The funniest thing about all that is that the bank's motto is "Take the most out of life" . Ironic isn't it? I am really unsure what I would do. US$ 6.5 million is a lot of money...

User currently offlineJcs17 From United States of America, joined Jun 2001, 8065 posts, RR: 38
Reply 2, posted (5 years 4 months 2 days 10 hours ago) and read 2221 times:

I really don't see what's funny about this. I can make jokes about everything, however this is just pathetic. What loser would actually take a bank mistake and try to maximize it? I can understand it you got an extra dollar or two, but 6.5 million. What an unapologetic losers these guys are.


America's chickens are coming home to rooooost!
User currently offlinePar13del From Bahamas, joined Dec 2005, 7231 posts, RR: 8
Reply 3, posted (5 years 4 months 2 days 3 hours ago) and read 2177 times:



Quoting Jcs17 (Reply 2):
I really don't see what's funny about this. I can make jokes about everything, however this is just pathetic. What loser would actually take a bank mistake and try to maximize it? I can understand it you got an extra dollar or two, but 6.5 million. What an unapologetic losers these guys are.

Question for you, how much money should the bank have paid these folks if they called and enquired about the discrepancy? Remember that money once in your account whether by error or not is yours, if the bank made a mistake that is on them not the client. When folks return valuables that were lost the gratefull persons usually give some kind of reward, in this case these folks did not give them a chance.
Now the question is which law did they break and what crime are they going to be changed with, I need to look up the laws in foreign countries.


User currently offlineLTBEWR From United States of America, joined Jan 2004, 13116 posts, RR: 12
Reply 4, posted (5 years 4 months 2 days 2 hours ago) and read 2166 times:

I would assume that some people at the bank will be or are already applying for unemployment benefits for this huge boo-boo. I would also assume that they have closed the original account and will notify the bank where the monies were transferred to close the account as well and return any balances (including interest!) back to them.

I am quite sure there are criminal laws and interpertation of them in NZ (and in almost all other counrtries) that their use of the improperly deposited funds is illegal and probably a felony crime with a long stay in jail. I would assume the bank once they realized their error contacted the local criminal proscutitor to file charges. I would also bet that there is mucho fine print somewhere in the bank's account rules that one cannot use improperly deposited funds.
Despite the temptation, I know if such an error happened to me, I would contact the bank in minutes about it and to correct it.


User currently offlineOA260 From Ireland, joined Nov 2006, 27005 posts, RR: 57
Reply 5, posted (5 years 4 months 2 days 2 hours ago) and read 2158 times:

LOL... I thought this was funny when I saw it on the news the other day. I thought it was particularly funny that the bank couldn't believe how much public support there was for the couple concerned .

User currently offlineLincoln From United States of America, joined Nov 2004, 3887 posts, RR: 8
Reply 6, posted (5 years 4 months 2 days 1 hour ago) and read 2150 times:



Quoting Par13del (Reply 3):
Remember that money once in your account whether by error or not is yours, if the bank made a mistake that is on them not the client.

Could be different in Austrailia, but my understanding has always been:
Absent bad faith on the part of the bank It's only your money if you have a vaild claim as to the ownership of the money. "Ailens beamed it into my account" or "The bank royally screwed up" does not a bad faith act or your money make.

Just like when you get $10 in change when you pay for a $10 purchase with a $10 bill -- that extra $10 is called a "mistake". Yes, you "can" keep it but it's not really yours and the right/just/honorable thing is to at least bring the shopkeeper's attention to it if not force them to take the extra $10 back.

Quoting Par13del (Reply 3):
When folks return valuables that were lost the gratefull persons usually give some kind of reward

Of all of the items I've returned, I can honestly say that I've never received a reward (other than the personal satisfaction of knowing that I did the "right thing"/hoping someone else would do the same for me)



CO Is My Airline of Choice || Baggage Claim is an airline's last chance to disappoint a customer || Next flts in profile
User currently offlineMetroliner From United Kingdom, joined Jan 2007, 1067 posts, RR: 1
Reply 7, posted (5 years 4 months 2 days 1 hour ago) and read 2143 times:

Surely if it's an overdraft they have to pay it back...?  Smile


Set the controls for the heart of the Sun
User currently offlineZkpilot From New Zealand, joined Mar 2006, 4833 posts, RR: 9
Reply 8, posted (5 years 4 months 2 days 1 hour ago) and read 2141 times:

Westpac has got the police involved. They have now enlisted Interpol to help find the couple. The man is Chinese hence why the couple fled New Zealand with the money to Hong Kong and possibly on to China.


56 types. 38 countries. 24 airlines.
User currently offlinePar13del From Bahamas, joined Dec 2005, 7231 posts, RR: 8
Reply 9, posted (5 years 4 months 2 days 1 hour ago) and read 2134 times:



Quoting Lincoln (Reply 6):
Absent bad faith on the part of the bank It's only your money if you have a vaild claim as to the ownership of the money. "Ailens beamed it into my account" or "The bank royally screwed up" does not a bad faith act or your money make.

Or the bank could have had a lottery to select one individual to help during these trying economic times, except the recipient found out too soon and refused to be a part of the ad campaign, hey stranger things have happened, like $1,000.00 tips at restaurants, even area 49, I mean 51  Smile


User currently offlineGreasespot From Canada, joined Apr 2004, 3084 posts, RR: 20
Reply 10, posted (5 years 4 months 1 day 19 hours ago) and read 2088 times:



Quoting Par13del (Reply 3):
Remember that money once in your account whether by error or not is yours, if the bank made a mistake that is on them not the client. When folks return valuables that were lost the gratefull persons usually give some kind of reward, in this case the

Um I am willing to bet in Most countries it is still theft....Willing to bet where you are it is also theft...

GS



Sometimes all you can do is look them in the eye and ask " how much did your mom drink when she was pregnant with you?"
User currently offlinePar13del From Bahamas, joined Dec 2005, 7231 posts, RR: 8
Reply 11, posted (5 years 4 months 1 day 18 hours ago) and read 2083 times:



Quoting Greasespot (Reply 10):
Um I am willing to bet in Most countries it is still theft....Willing to bet where you are it is also theft...

GS

Laws are funny things, here we have a very high ratio of lawyers to citizens, its why this interest me, they always seem to look for loop holes. The theft part is interesting, these folks did not deposit the funds, and they were allowed to withdraw, there may be some regulation violated, will be interesting to see what they are ultimately charged with, that may have to be done real soon as it will need to be used to extradite them if and when they are found.
Here we have to justify deposits above a certain amount, to ensure it was not obtained illegally, however, I will have to look up what it says about banks depositing money to clients accounts, they may have overlooked that one, ya never know.

Too many laws recently have been knee jerk reactions to world events with out being properly thought out, see the new US off shore tax havens initiatives, but that is a story for another day.

Will follow this story to see if and how it pans out. One thing that just came to mind, if a transfer was made electronically out of country, did they actually have time to leave and convert those funds to cash? That may be why the story says some of the funds were recovered, probably could not withdraw all at once.


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