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Old Today, 07:47 AM
 
8,375 posts, read 5,471,020 times
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The guy should have faked an anxiety or panic attack from seeing the 120K in his account and sued the bank for pain and distress.
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Old Today, 09:01 AM
 
612 posts, read 259,604 times
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Quote:
Originally Posted by City Guy997S View Post
Stupid case but if they present it in front of the right jury they could be found innocent! Just need 12 people that think like them!
And if the jury ignores the law and sides with them, it will be appealed anyway.

But, if the prosecutor presents the case correctly, the couple is toast. No decent people on a jury will side with the couple.
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Old Today, 09:06 AM
 
612 posts, read 259,604 times
Reputation: 1407
Quote:
Originally Posted by Mister 7 View Post
What rednecks....they bought cars with it.

Saw their picture, lol confirmed.

One time a teller almost put double my cash deposit in ($2400 instead of $1200 cash), but I stopped her because I'm not dishonest first of all, and didn't want to mess with a bank either. Lol just imagining the trouble....Bank of America versus me. Not sure it would turn out too well for me.

I asked a teller I know that works at another branch of BOA and she said that if I didn't say anything they would have never known because it was cash. And the teller would have been responsible and lost her job.
They aren't rednecks! They're just from Pennsyltucky
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Old Today, 09:23 AM
 
12,045 posts, read 20,600,382 times
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Quote:
Originally Posted by rstevens62 View Post
I will ask again...what is the purpose of deposit insurance, if not for situations just like this?


This is what insurance is for folks, to protect us when mistakes happen, its why we carry home and car insurance, its why banks carry deposit insurance.
Actually, it’s not the deposit insurance that covers this, deposit insurance is to make you the customer feel safe about the bank you’re trusting your funds to.

I believe it’s the bonding insurance on the teller. I could be wrong though, because my experience is a large embezzlement case a teller committed to the tune of 285K. When caught, she committed suicide. Her husband had to give back struck she had purchased for him, and I remember hearing that covered half the deductible so the banks loss was 12,500. The customer was made whole, after they unwound the whole mess which took a few months.
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Old Today, 10:03 AM
 
11,310 posts, read 2,958,076 times
Reputation: 7613
Quote:
Originally Posted by Tallysmom View Post
Actually, itís not the deposit insurance that covers this, deposit insurance is to make you the customer feel safe about the bank youíre trusting your funds to.

I believe itís the bonding insurance on the teller. I could be wrong though, because my experience is a large embezzlement case a teller committed to the tune of 285K. When caught, she committed suicide. Her husband had to give back struck she had purchased for him, and I remember hearing that covered half the deductible so the banks loss was 12,500. The customer was made whole, after they unwound the whole mess which took a few months.
Yes, thats the kind of insurance I was referring to, it seems to me, this type of insurance is RARELY, if ever used (so that means the insurance company is making out like a bandit more than likely).


I guess it should be no surprise when insurance companies post astronomical profit earnings! (when you are not actually providing anything and people still pay you, well...LOL)
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Old Today, 10:55 AM
 
21,482 posts, read 17,057,571 times
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Quote:
Originally Posted by Cloudy Dayz View Post
The couple has to go to jail, because the bank messed up. It makes total sense. LOL.
It's not because the bank messed up. It's because they decided the money was theirs to spend without even looking into it. 5 seconds on Google tells you it's illegal.
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Old Today, 11:10 AM
 
Location: Seattle
1,919 posts, read 1,091,158 times
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Working in Human Resources for a number of years and subscribing to Blogs/Forums etc similar circumstances commonly happen with payroll.

Same laws apply, just because a deposit was made in error there is no protection or justification with keeping it.

I work in commercial fishing, a delivery settlement about $30,000 was paid out to the wrong account. The person whose account it went to immediately bought a Camaro. Oops! He owed that full $30/k back.
The accounting person who made the deposit error was rightfully fired too.
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Old Today, 12:22 PM
 
Location: Fort Lauderdale, Florida
9,541 posts, read 8,519,971 times
Reputation: 20879
Quote:
Originally Posted by AlmostSeniorinNJ View Post
And if the jury ignores the law and sides with them, it will be appealed anyway.

But, if the prosecutor presents the case correctly, the couple is toast. No decent people on a jury will side with the couple.
The couple is toast because the only representation they can afford is a court appointed attorney.

Anyone who thinks this is okay or tries to justify this couple keeping the money is just as big of trailer trash as the couple is.
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Old Today, 12:32 PM
 
Location: Upstate NY 🇺🇸
36,666 posts, read 10,857,268 times
Reputation: 34800
Quote:
Originally Posted by rstevens62 View Post
I will ask again...what is the purpose of deposit insurance, if not for situations just like this?


This is what insurance is for folks, to protect us when mistakes happen, its why we carry home and car insurance, its why banks carry deposit insurance.

Are you okay?

This has nothing to do with insurance for depositors.

And the fact that banks carry insurance for their own losses--embezzling employees, robbers, people like the subjects here, whose "windfall" can't be recovered because they spent it--has NADA to do with holding the perpetrators accountable, and criminally prosecuting them.

Yeesh.
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Old Today, 01:40 PM
 
9,684 posts, read 7,330,245 times
Reputation: 12470
Quote:
Originally Posted by rstevens62 View Post
Yes, thats the kind of insurance I was referring to, it seems to me, this type of insurance is RARELY, if ever used (so that means the insurance company is making out like a bandit more than likely).


I guess it should be no surprise when insurance companies post astronomical profit earnings! (when you are not actually providing anything and people still pay you, well...LOL)

That's a huge difference. Bonding insurance would be something like what a travel agent might carry.. Say you're a travel agent and you book someone Round Trip flights and hotel, nonrefundable, to Las Vegas.


Problem is.. They wanted to go to Las Vegas, NM, not Las Vegas, NV.


Bonding insurance would cover the travel agent.

But, i'm fairly certain that because the money can be recovered.. After all, it's just 'digital money' at that point.. Insurance wouldn't kick in.

However.. Say a teller gave out 5 $100 bills instead of 5 $20's.. Perhaps at that point, because the money would, in general, be non-recoverable, the insurance might kick in?



I'm not knowledgeable enough in banking to know how that works.. But I know for certain what DEPOSIT INSURANCE is, and that is totally irrelevant to this conversation.. Unless the bank made a big enough screw up to go under.
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