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ADVERTISE HERE! · 02-23-2008, 11:59 AM

Read the article here:

Bank accidentally gives man $5 million - Yahoo! News

What would YOU have done if you found $5 million in your bank account?

usakos · 02-23-2008, 12:07 PM

I'll try to give it back to the bank, but because bank employees sometimes are so stupid, they keep telling me that i am the guy with $5m, when i keep telling them that it's not me, I keep telling them that I am broke, and my account is supposed to be $129 overdrawn and if they keep telling me that it's me, the owner of $5m, then I I'll take it and blow it in bad investment, well apparently, just as he did.

Ahern & Brucker · 02-23-2008, 12:51 PM

i'd cash it and than negotiate a nice reward for it's safe return... (1/2 )

quickincorporators · 02-23-2008, 12:55 PM

I honestly think this guy has a pretty good case.

Young_Mogul86 · 02-23-2008, 01:51 PM

LOL, I would wire it to an offshore, Then piece it out in several high-risk but name-worthy hedges.. give it some, when someones like, give me my 5 mil, I could honestly tell them... right now its locked up, If you want it now it will be ate up in fees... BUT you can wait 6 months for it.. if I was prosecuted in this 6 months it wouldnt matter, cause after I get it from the fund, I could pay it back before our slow judicial system had time to do anything.... And be left with the rewards of buying into a top-of-the-line hedge fund.

6 month projection with 5 mil in the hedge fund that donald trump buys into... 3 mil. (they consistantly bring in 200-300% annual with a charge of 10%.)

ADVERTISE HERE! · 02-23-2008, 02:15 PM

Quote:

Originally Posted by quickincorporators

I honestly think this guy has a pretty good case.

What's your reasoning?

ADVERTISE HERE! · 02-23-2008, 02:17 PM

Quote:

Originally Posted by Young_Mogul86

LOL, I would wire it to an offshore, Then piece it out in several high-risk but name-worthy hedges.. give it some, when someones like, give me my 5 mil, I could honestly tell them... right now its locked up, If you want it now it will be ate up in fees... BUT you can wait 6 months for it.. if I was prosecuted in this 6 months it wouldnt matter, cause after I get it from the fund, I could pay it back before our slow judicial system had time to do anything.... And be left with the rewards of buying into a top-of-the-line hedge fund.

6 month projection with 5 mil in the hedge fund that donald trump buys into... 3 mil. (they consistantly bring in 200-300% annual with a charge of 10%.)

Think they will drop the prosecution if you give them money back, after risking it to make a profit? Also, think they won't require you to disgorge the profits?

tazman9r · 02-23-2008, 04:19 PM

Quote:

Originally Posted by Young_Mogul86

LOL, I would wire it to an offshore, Then piece it out in several high-risk but name-worthy hedges..

Love the idea, but I think it's doomed to fail. Banks hate it when you beat them at their own game, and would beleive they were entitled to the money you earned, or a large portion of it, as a result of the risk you took with their money. Of course, notwithstanding, it was their incompetence that put the money in your account to begin with.

ADVERTISE HERE! · 02-23-2008, 04:40 PM

Quote:

Originally Posted by tazman9r

Love the idea, but I think it's doomed to fail. Banks hate it when you beat them at their own game, and would beleive they were entitled to the money you earned, or a large portion of it, as a result of the risk you took with their money. Of course, notwithstanding, it was their incompetence that put the money in your account to begin with.

A bank's incompetence is no defense to a criminal prosecution though.

tazman9r · 02-23-2008, 05:05 PM

True, the liability for receiving and using/spending any of the money is entirely on the person who received it.

Probably the best legal recourse, other than returning the entire amount and hoping to receive at least a verbal congratulation, is to sue the bank for erroneously depositing the money into your account, thereby exposing you to the liability of having received, through no action of your own, an amount of money that you would then be expected to return of your own volition without first being contacted and warned by the bank that the money was there.

I am not a lawyer, and would not try to be, but one who reads enough regulatory material can begin to fake sounding like one to the uneducated. Hehehe

ADVERTISE HERE! · 02-23-2008, 05:18 PM

Quote:

Originally Posted by tazman9r

True, the liability for receiving and using/spending any of the money is entirely on the person who received it.

Probably the best legal recourse, other than returning the entire amount and hoping to receive at least a verbal congratulation, is to sue the bank for erroneously depositing the money into your account, thereby exposing you to the liability of having received, through no action of your own, an amount of money that you would then be expected to return of your own volition without first being contacted and warned by the bank that the money was there.

I am not a lawyer, and would not try to be, but one who reads enough regulatory material can begin to fake sounding like one to the uneducated. Hehehe

I'm not a lawyer either, but I think you'd be fighting a losing battle with that one. But like many a lawyer will tell you, they will argue anything you pay them to argue!