Man gambles away $1.5m after bank glitch lets him withdraw unlimited cash

Man gambles away $1.5m after bank glitch lets him withdraw unlimited cash

A Detroit man who took advantage of a Bank of America glitch to withdraw $1.5 million he didn't have from ATMs and gamble it away in casinos is facing a jail term.

According to Detroit's Local 10 News, retired General Motors worker Ronald Page visited an ATM at a casino and found that, despite only having a few hundred dollars in his account, he was able to take out as much money as he wanted.

Page discovered the same thing happened at other ATMs and at casino windows, so went on a 15 day-long spree, taking out $312,000 at Greektown Casino, $103,000 at MGM Grand Casino and $514,000 at Motor City Casino. He lost all the money.

Bank of America eventually cottoned on to the problem and Page now faces a federal judge who will sentence him on 27 June. Prosecutors are recommending a relatively lenient 15 months in prison, arguing that the bank is at least partly to blame for letting temptation arise.

Bank error gives man unlimited ATM withdrawals at Detroit casinos - Local 10 News

Comments: (1)

A Finextra member
A Finextra member 27 June, 2012, 20:09Be the first to give this comment the thumbs up 0 likes

So the story says the guy is facing a judge today - does anyone know what happened?