Posted on 02/20/2008 2:06:21 PM PST by indcons
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The lesser-funded Lovell gave away some of the withdrawn money and blew some of it on gifts, but lost much of it on bad investments, prosecutors said.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.
I’d like to bank with them.
Some guys have all the luck. The only thing I ever received due to a name mix-up was a subpoena.
He should have taken a witness to the bank telling him that he could withdraw the money. Then, moved the money out to a different bank, collected interest, and then simply repaid the money when asked by the bank.
That way, he could have kept the interest.
Now, if he had withdrawn it and gone to a second bank and put it all in something fail-safe like CD's, maybe he could have returned the $5M when they came calling and just quietly pocketed a small profit.
A sherrif came to my house to serve papers for child support, I said “uh you got some ‘splainin’ to do...then the Sherrif noted he had the wrong house. That sherrif almost got an innocent man killed.
Ouch - he should have taken it and done some straddles.
A guy with the same name as me (including middle initial) in the town I used to live in was busted for possession of child pornography... twice. That ought to be great for the ol’ high school reunions.
That bank needs to be indicted on charges of stupid.
I didn't know about it until I received a correction notice in the mail that started out "Your deposit on June 1 originally credited as $16,945,678 was recorded in error. Your actual deposit amount is _____.
Bummer. I wished I'd have known when I had it. That's almost enough to get me another life someplace sunny ;~)
I once received a fed ex containing closing papers, a deed and keys to a beach house in Traverse City, Michigan.
A careless agent sent them to me instead of a guy who shares my name in my town.
Exactly. He knew it wasn't his money, regardless of what the bank was telling him at the time, He KNEW it was a mistake.
Good point...I’ll keep this advice in mind if my bank ever decides to be this generous (fat chance of that happening though!)
no one though 2 people could have the same freakin name!?!
and did this guy actually think that this wouldn't catch up with him? that money belonged to SOMEONE and eventually they might want it back.
yes it is an earworm isn’t it.
“he should have known”, but the bank should have known better.
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