Man Gambles Away $1.5 Million After ATM Account Error


/ June 20, 2012

This story will seriously have you saying “What?! Why not me!”

According to ABC News, a man in Detroit—who is now facing 15 months in prison—was able to withdraw unlimited ATM cash from his Bank of America account that only held about $300. He reportedly took out a whopping $1.5 million from August 1st 2009 to August 18th 2009, spending it mostly at casinos.

Ronald Page, a retired worker after 30 years at General Motors, is reported to have maintained an average balance of about $100 in his account from Dec. 1, 2008 to May 31, 2009, according to his indictment. Page pled guilty on March 7 to theft of bank funds. His sentencing will take place on June 27.

Page’s history of gambling dates back to February 2009, where his account was used primarily for gambling. He deposited his winnings and withdraw amounts from $2,000 to $50,000. When the bank error occurred on August 1, he took out amounts of $312,000 and $51,727 on the same day. By August 18, he had overdrawn $1,543,104, as his indictment states.

The U.S. Attorney’s Office recommended 15 months in prison for Page and that the court order restitution to Bank of America for the $1,543,104 that he took out unlawfully.

Is this his fault? Should Bank Of America be to blame for making the error or should Ronald have to pay up for knowingly taking money that he clearly knew he didn’t have. Sound off with the opinion guys!