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$1.5 million spent in 14 days = 15 Months in Prison

Thursday, June 28, 2012

Imagine yourself taking money out of the ATM and realizing that, due to some computer glitch, you are able to withdraw an endless supply of money. That’s what happened to a Detroit man, Ronald Page, in August of 2009. Page managed to withdraw more than $1.5 million from ATMs at three different Detroit casinos.  It didn’t matter whether he requested $10,000 or $50,000 from the ATM, the money just kept coming out.

His good fortune ended there. Ronald gambled the entire sum away in 14 days. That’s right, it took two weeks for the bank to realize the computer glitch. Arguably more surprising, it took two weeks for one man to gamble away $1,543,104 playing Blackjack.

Page was sentenced to 15 months in prison by a federal judge yesterday and ordered to repay Bank of America.

I’d like to think most of us, if placed in a similar situation, would notify the bank and return the money. However, I’m curious to know what you would do if this happened to you. Leave a comment and share your thoughts.

 

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