Bank accidentally gives man $5 million

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Kalista

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NEW YORK - 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The lesser-funded Lovell gave away some of the withdrawn money and blew some of it on gifts, but lost much of it on bad investments, prosecutors said.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.
 
Would you return the money back to the teller at the bank if the teller gave you too much money?

Two years ago summer, teller gave me $200.00 over amount to me. I was driving back to the bank to return 200 dollars to the teller. She was so surprised that I was honest person. I would feel guilty rest of my life if I kept 200 dollars.

I said, whoa this article the man kept million dollars. :ugh3: Obviously, he has a heartless.
 
O.ay, I -completely- don't agree with theft... but the milk's already been spilled: the man -spent- the money. What can they possibly do, save for ruining his life trying to get their money back? Giving up seems like the best option.

Kalista said:
Would you return the money back to the teller at the bank if the teller gave you too much money?

Two years ago summer, teller gave me $200.00 over amount to me. I was driving back to the bank to return 200 dollars to the teller. She was so surprised that I was honest person. I would feel guilty rest of my life if I kept 200 dollars.

I said, whoa this article the man kept million dollars. :ugh3: Obviously, he has a heartless.
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Like the Steve Miller song says Take The Money & Run!!

Music1SteveMiller.jpg
 
According to my bank, if I transfer money into a wrong account, the bank will not be held liable. I think the same principle should apply for banks (I like to dream).
 
My bank accidently deposited $7,000 in my checking acct a few months ago. I wanted to keep it so badly but was afraid that the bank would recognize its error and demand the money back. GRRRR!
 
Of course you have to give the money back, as the man said he tried to do.

However, with that much money at stake, I think the poorer Lovell has a case for claiming a finder's fee, usually 10% of monies found and returned. I know this is electronic money, not actual bills found in a bag, but I think the principle still has merit.
 
I'd return it and if I were that man, I'd a lawyer and find a way to put that money in a safe place to return it later to the right person. It's not worth a legal mess.
 
Of course it is wise to return money. You can't mess around with computer or bank system. If they made a mistake, they will find it out in any way. Now it is entirely different story if you found a briefcase lying around with 2 millions inside it. You would be very stupid if you return it to bank.
 
Yes, I would return the money. What a lot of people do not realize is that by having our money in the banks is what keep the country going. We are the reason why people are able to get mortgages, loans, etc.
 
lumbingmi said:
Of course it is wise to return money. You can't mess around with computer or bank system. If they made a mistake, they will find it out in any way. Now it is entirely different story if you found a briefcase lying around with 2 millions inside it. You would be very stupid if you return it to bank.
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Well, u just cant deposit 2 million dollars in cash because it would alert the authorities, would it?
 
shel90 said:
Well, u just cant deposit 2 million dollars in cash because it would alert the authorities, would it?
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Do I look like stupid? :D Of course not, i wldn't deposit all at once. I would deposit by little by bit. Then using remaining to pay off whatever I need to or slashing cash in safebox somewhere. Or you can always open bank at Switzerland ;)
 
lumbingmi said:
Do I look like stupid? :D Of course not, i wldn't deposit all at once. I would deposit by little by bit. Then using remaining to pay off whatever I need to or slashing cash in safebox somewhere. Or you can always open bank at Switzerland ;)
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LOL! I dont know what you look like so I cant tell if u look stupid or not. :giggle:
 
I would have to be honest and give $5 million bucks back to the bank as it is not my money. It was never mine to begin with. :)

If the money was found in a briefcase and no one claim the briefcase within a week then it is mine! :D
 
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