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Man Gambles Away $1.5 Million Accidentally Given By ATM - Business - Nairaland

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Man Gambles Away $1.5 Million Accidentally Given By ATM by holymike47(m): 1:14pm On Jun 20, 2012
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 Bank of America placed a hold on his account 17 days later, but he had already withdrawn $1.5 million by that point.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.

http://news.yahoo.com/blogs/sideshow/detroit-man-gambles-away-1-5-million-accidentally-191619543.html
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by Nexxy007: 1:17pm On Jun 20, 2012
persn 4dn knw ds 1 no b naija guy. Mumu

2 Likes

Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by WhoIGoAsk: 3:55pm On Jun 20, 2012
[size=16pt]money comes, money goes[/size]
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by horlabiyi(m): 3:57pm On Jun 20, 2012
If this kind thing happen in Naija. We go sing MAGA don pay.

1 Like

Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by maasoap(m): 3:59pm On Jun 20, 2012
Nexxy007: persn 4dn knw ds 1 no b naija guy. Mumu
The same thing happened to a corps member who was serving in Oyo State about three years ago, he also spent all the money he was able to withdraw before his account was blocked the same way.
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by Tattooboy: 4:00pm On Jun 20, 2012
wise dude
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by Chinom(m): 4:00pm On Jun 20, 2012
This kind of thing never happens to Naija guys. A Naija guy would be in Lagos by now with the loot never to return to Yankee. Aftreall na money we come find.
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by IlCapitano(m): 4:01pm On Jun 20, 2012
Easy come easy go. The dough's gone with the wind. If i was the guy i'd have stashed the loot in an account in Monaco.
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by codeaddict(m): 4:01pm On Jun 20, 2012
He had 17 days and he withdrew just 1.5 million! I trust my naija guys.

1 Like

Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by maasoap(m): 4:01pm On Jun 20, 2012
Nexxy007: persn 4dn knw ds 1 no b naija guy. Mumu
The same thing happened to a corps member who was serving in Oyo State about three years ago, he also spent all the money he was able to withdraw before his account was blocked the same way. It has nothing to do with one's origin, nation or background. Rather it has to do with individual orientation and lifestyle.
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by slimming: 4:01pm On Jun 20, 2012
He's lost forever to poverty.
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by farolee(m): 4:03pm On Jun 20, 2012
Nexxy007: persn 4dn knw ds 1 no b naija guy. Mumu
so u think 9ja people are wise? See your environment and your government at all level.

1 Like

Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by Nobody: 4:03pm On Jun 20, 2012
The twilight of ill-gotten wealth.
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by Nexxy007: 4:11pm On Jun 20, 2012
farolee: so u think 9ja people are wise? See your environment and your government at all level.
naija guys ar wise n sharp blv me. Hm 4dn go dark since. Arrest ke?
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by achi4u(m): 4:12pm On Jun 20, 2012
the dude na underage
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by achi4u(m): 4:14pm On Jun 20, 2012
Nexxy007: naija guys ar wise n sharp blv me. Hm 4dn go dark since. Arrest ke?
atleast naija guy for use am buy car sharp sharp
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by Nexxy007: 4:14pm On Jun 20, 2012
no mind am jawe
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by Tadup: 4:16pm On Jun 20, 2012
Why nigerian atms no dey do this kind mistake?
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by malele(m): 4:22pm On Jun 20, 2012
saw it on yahoo, that man is a stupid man
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by Ruq: 4:28pm On Jun 20, 2012
This guy is just plain daft. am sure he taught it was going to be like that forever.
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by sirp2007: 5:02pm On Jun 20, 2012
They should have d man`s head examine.

MOD PLS PUT THIS ON FRONT PAGE
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by Onyenna(m): 5:08pm On Jun 20, 2012
If he can't use $1.5m wisely, then he's destined to be poor forever!!!!!!!....does it mean he has no needs!?.. He couldn't even buy a house or something....... How old is he by the way?.....
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by ebamma(m): 5:12pm On Jun 20, 2012
naija banks atm no fit do like dat, instead u go withdraw 2k dem go say na 4k.
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by Pakavy(m): 5:23pm On Jun 20, 2012
i no blame d guy sha

1 Like

Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by Wilsoncaleb(m): 5:34pm On Jun 20, 2012
the guy in question is the number 1 fool I have seen in this present hardship.
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by LordReed(m): 5:40pm On Jun 20, 2012
If it was a Naija guy this happened to now the cries and hues of "nation of thieves" and all sorts of unsavoury names would be levelled against the whole country.
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by UNLEASHED(m): 5:43pm On Jun 20, 2012
Old dude is just daft...I trust my country men
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by WebsiteDesigner: 6:09pm On Jun 20, 2012
When 'mumu' meets 'maga', no one falls 'mugu'
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by canuck(m): 6:44pm On Jun 20, 2012
slimming: He's lost forever to poverty.

No truer words were ever spoken smiley
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by stolenstone: 8:15pm On Jun 20, 2012
hahahahahahahhaha!!! Easy come.... easy go...
Re: Man Gambles Away $1.5 Million Accidentally Given By ATM by freshboy88(m): 9:07pm On Jun 20, 2012
Haaaaa!!! Gambling ke? I'm Ŋ¤τ̲̅ †ђã† stupid.

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