Ronald Page, a retired General Motors worker, recently went to some casinos in the Detroit area because he wanted to gamble with the few hundred dollars he had in his bank account. When Page went to the ATM to get his money out the ATM gave him an unlimited amount of money from the machine because of a bank error.
Page withdrew a total of $1.5 million from a few different ATM machines at different casinos and decided that his bank, Bank of America, doesn’t need to know of the ATM error. After Page gambled the entire $1.5 million away Bank of America froze his account and the federal authorities then arrested Mr. Page.
Page was convicted of stealing bank funds and prosecutors are recommending a 15-month sentence because the bank was partly to blame for the bank error.
Listen to Steve talk about Mr. Page.