A man in Roswell, New Mexico got the surprise of a lifetime when his bank accidentally gave him too much money. The man went to drop just $430 into his bank account, but the bank gave him credit for a deposit of $43,000 by mistake. This led to him wondering if he should keep the money or give it back. He chose to keep it.
According to KOB.com, the man went on the shopping spree of his life, buying things that his tiny $430 could never have given him. But of course, the bank figured out that they gave away the money and then tried to contact him. They called him repeatedly and even spoke to him, but he has yet to pay the money back.
Now, the bank must decide if they want to prosecute the man for theft or file a civil lawsuit to get the money back. Either way, they’re going to go after their cash.
The Washington Federal Branch Manager isn’t commenting on what happened, but they are obviously still interested in figuring out a way to resolve the situation.
Financial Juneteenth lessons from this story:
1) Banks keep very very very accurate records. If they give you an extra penny, they are usually going to find it. Don’t assume you’re going to get away with something like this.
2) Spending money, even if it was accidentally given to you, can lead to criminal charges. This is true for financial institutions and especially the IRS. These institutions have re-instilled indirect versions of debtors prisons, where people are either directly prosecuted for taking money or prosecuted for contempt of court for not showing up and fighting the lawsuit. Either way, be careful with other people’s money.