Tuesday, May 26, 2009

Bank error accounts for $8M windfall

Mon May 25, 2009

{Take the money and run -- it was only a fleeting thought for an accidental multimillionaire formerly of Alberta.
Ivan Szoke, who moved to Creston, B.C., from Ponoka five years ago, found out he was a millionaire almost eight times over on Friday after he called the bank to check his account balance.
An automated voice on the phone told the truck driver he had $7,933,083.70 -- leaps and bounds above the $1,601 he had deposited.
"The number was out to lunch," the 51-year-old said yesterday.
The thought of being an instant millionaire was dizzying, but Szoke quickly scrapped the fantasy of cashing in the windfall.
"It was tempting," he said with a chuckle, adding in jest that being a millionaire is probably more trouble than it's worth.
"If a guy had that much, for sure everyone would be after you -- too much hassle."
Instead, he went straight to his local CIBC branch to report the error.
Szoke's first attempt at honesty fell on deaf ears.
The bank teller told him CIBC would investigate his claim, but said it could take weeks to resolve -- leaving the money in his account.
"They were nuts, they didn't have a clue," said Szoke, who went to show his wife, Wynn, the impressive digits on the bank slip.
She said the dream of cashing in the money, which a couple in New Zealand did last week after C$6.9 million was erroneously deposited into their account, was "a thought -- but a very short thought."
"Our Christian morals would not allow us to do that," said Wynn. "And sooner or later, we'd have to pay it back."
Wynn and her husband returned to the bank the same day to sort out the mistake.
This time, Szoke approached a bank teller, who is also a friend, and told her he wanted to empty his account and receive the cash in twenty-dollar bills.
"The look on her face was priceless," he said about her reaction to his accidental millionaire status.
This bank teller realized immediately that an employee had deposited the wrong amount and quickly reversed the windfall, said Szoke.
"A lot of people probably wouldn't have been (honest), but I'm not that way," he said.
CIBC spokesman Doug Maybee wasn't aware of the incident when reached yesterday. He said the banking institution doesn't discuss such issues because they are considered police matters.
The Szokes plan to frame the bank statement that proves they were millionaires, even if it was only for a few hours.}
TARINA.WHITE@SUNMEDIA.CA
http://ca.news.yahoo.com/s/calsun/090525/canada/bank_error_accounts_for_8m_windfall
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Whenever a bank makes such a mistake, they will always want their money back.
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New Zealand couple go on run after £3.8m bank error
Manhunt launched after pair disappear with cash deposited by mistake

James Meikle
guardian.co.uk, Thursday 21 May 2009 10.55 BST
http://www.guardian.co.uk/world/2009/may/21/nz-bank-error-couple-flee
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New Zealand couple flees after $7.8m bank blunder
By staff writers
NEWS.com.au
May 21, 2009 09:10am
Couple asked for $NZ10,000 overdraft
Bank gave them $NZ10 million instead
NZ Police and Interpol now chasing the pair
http://www.news.com.au/business/story/0,27753,25515799-462,00.html
http://www.news.com.au/business/money/story/0,28323,25515799-462,00.html
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Its very tempting for some folks to run off with the banks money. This NZ couple can't remain
disguised for the rest of their lives. In theory, any camera that captures their image can be sent through a Facial_recognition_system.
http://www.customs.gov.au/site/page.cfm?u=5552
If they live in a cave or some other remote area, they might be able to evade capture for quite a while. However, once they are caught they will have to live a few feet away from a metal toilet in a cell. Their life will become excrement so it will be apropos to live 1 or 2 meters away from a stinky toilet.