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Thread: Bank Increases Overdraft Protection 4.9 mil, She Blows It

  1. #11
    40th Mojave Summer DesertBerean's Avatar
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    Since this is in Australia, the laws may read differently about who's responsible and how, assuming the magistrate was quoted correctly.

    And I didn't catch that the police as well as the bank had been trying to get in contact with her. There's a criminal aspect to this somewhere...

  2. #12
    tWebber Teallaura's Avatar
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    Quote Originally Posted by Sparko View Post
    oh come on Teal. she didnt just accidentally spend 3 million and it was miraculously covered. she either got a letter telling her that her overdraft limit was being increased to $4M or she accidentally went a little over and the bank deposited $4M in her account. Either way she would know it was an error. And that since it was overdraft it was a loan and she would have to pay it back, she also knew she could not pay it back. so she spent money she could not repay. that is fraud. or stealing. it is not a mistake in her favor and it is not the bank's fault since even though the amount was too high it was still a loan, not a gift.

    she got greedy. and stupid.
    I actually agree - but the bank is just as stupid and doesn't get to pretend that it's all on her. Since the bank sets credit limits it's the bank's responsibility to set those limits correctly. Although morally and ethically wrong, she is legally on decent grounds. The responsibility was primarily the bank's and as silly as it sounds, she could argue that she reasonably concluded the bank knew what it was doing.

    It's not fraud. I'm real dubious that it's embezzlement. There is no duplicity. She isn't in the right - but she isn't committing fraud, either.

  3. #13
    tWebber Teallaura's Avatar
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    Quote Originally Posted by DesertBerean View Post
    I imagine she would have got some letter or email informing her of the increase. The article states the bank then tried to contact her about theberror. They should have just turned the spigot off but maybe she had spent it so fast before they could do so.


    What idiot mailed a letter instead of stopping the account? Oh yeah - the computer.

    That's not a bank doing it's due diligence - it's a mess up.

  4. #14
    tWebber Teallaura's Avatar
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    Quote Originally Posted by DesertBerean View Post
    Since this is in Australia, the laws may read differently about who's responsible and how, assuming the magistrate was quoted correctly.

    And I didn't catch that the police as well as the bank had been trying to get in contact with her. There's a criminal aspect to this somewhere...

    Oh, that's different - sorta.

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