Jackpot! For a couple of weeks back in 2009, Ronald Page was living the dream. Thanks to a bank error, the retired General Motors worker was able to withdraw unlimited amounts of cash from ATMs at casinos in the Detroit area.
Instead of letting Bank of America know of their screw-up, Page decided to let it ride--going on what must have been an epic gambling spree.
With just a few hundred dollars in his bank account, Page withdrew a total of $1.5 million in cash from casino ATMs, according to a report by Detroit's Local 10.
Page took out $312,000 at Greektown Casino, $103,000 at MGM Grand Casino and $514,000 at Motor City Casino, according to Local 10.
But Page's lucky streak was short-lived. Fifteen days and many, many ATM withdrawals later, Page had gambled away all the money. (Editor's note: if you suddenly find yourself flush with cash, we recommend an index fund or more prudent investment.)
It wasn't long before Bank of America froze his account and federal authorities stepped in.
Prosecutors are recommending a 15-month sentence because the bank is partly to blame for the error, Local 10 reports.
What would you do if your bank account gave you to access unlimited funds? Would you spend all the money or alert the bank of the error? Let us know in the comments below.
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