Lose 1.2 billion--- no worries--- Find 69K in you bank account and spend it--- Youse in trouble.

[trumad]

Not saying the guy should get away with this, but it does show a giant double standard when a company like MF Global can come up missing 1.2 billion dollars with no consequences---and this guy's situation.

Bucks man finds extra $69K in account, charged with spending most of it

May 22, 2012|Breaking News Desk

A 22-year-old Bensalem Township man who found an extra $69,300 mistakenly deposited into his bank account surrendered today on charges he spent most of the money.

Police said Joseph Bucci, of the 3300 block West End Avenue in Trevose, used the money to buy food, clothing, furniture, a vehicle, airline tickets and a pet dog.

Bucci was charged with theft and receiving stolen property, both third-degree felonies.

Police said Wells Fargo accidentally deposited the money in his account but by the time the bank discovered the error, he only had $2,000 remaining.

Bucci was released on $25,000 unsecured bail.
http://articles.philly.com/2012-05-22/news/31813342_1_bucks-man-bank-account-bensalem-township-man

Found at Atrios:
http://www.eschatonblog.com/2012/05/on-one-hand-we-have-mf-global.html

[WI_DEM]

1. of course it's not fair, but the guy knew the money wasn't his and spent it

so he deserves the trouble he caused. I would have asked my bank, 'Where did this come from?' any smart person with integrity would have. Of course the banks who lose $1.2 billion get a slap on the wrist and that's inexcusable. But it still doesn't excuse what this guy did.

[liberalhistorian]

8. Totally agree. Did he think

the magic money fairy had just magically appeared or something? Hell, if I find an extra five bucks in my account that I know I didn't put there, I'd be asking questions. I sure as shit wouldn't be spending the money. What society does with big banks and Wall Street really has nothing to do with it, it's all about personal integrity. Because A does something wrong and gets away with it doesn't mean B should be able to as well. And what about the person or entity whose money he took as if it were his own? What if your money were mistakenly deposited in another account and that person just spent it all?

Reminds me of a situation about fifteen or so years ago. An extra $279 appeared in my own bank account one day and I sure hadn't put it there. Strange thing was, I couldn't seem to get my bank to care that it shouldn't be there. I finally got them to trace the deposit and they claimed I'd deposited the amount on such-and-such a date. I said, um, no, I didn't, unless I have an alter ego inhabiting a parallel universe. Because they showed a deposit of that amount in my account, they simply believed I'd made it without remembering and weren't interested in trying to get to the bottom of it. Meanwhile, the poor guy who'd actually made the deposit, and whose money it was, was frantically trying to figure out why the money wasn't in the account, despite showing a deposit slip to any teller at any of the bank branches who would listen. Did they put two and two together and try to come up with four? Hell, no. I had to practically force them to investigate the deposit, which they finally did, upon which they discovered that the guy's account number was only one number off from mine and they'd mistakenly put it in mine. This all took almost a whole month, meanwhile the guy is out an entire paycheck. Fortunately, I'd had enough money in my account so that when automatic payments came out of it, it didn't dip into the money that wasn't mine. That would have been a real mess.

[Enrique]

2. i say look forward, not back

[earthside]

3. In 'Bush-Cheney World' ...

... the guy would be promoted to CEO of Wells Fargo.

[EOTE]

4. But when banks unlawfully foreclose on people's homes, ruining their lives...

sometimes causing the mortgage owners to commit suicide, they get off scott free too.

Fuck Wells Fargo.

[MattBaggins]

5. He is charged with receiving stolen property?

So Wells Fargo is being charged with stealing property then?

[liberalhistorian]

9. Wells Fargo will have to make good

on the money to the depositor who actually should have received it, since it was their mistake. But the guy should be charged with theft, 'cause he took and spent money that was not his and that he should have known wasn't his to spend.

[Nye Bevan]

6. Maybe he thought it came from one of those "internet lotteries"

that seem to take place regularly? Based on the emails I receive.

[Hassin Bin Sober]

10. I think you just hit on the perfect defense!!

"I thought the money came from a Nigerian Prince"

[woodsprite]

7. I hope the money wasn't from the house payments that the CA couple made

The one where the husband committed suicide because Wells Fargo foreclosed on them when they had been making payments.