Detroit man gets $1.5 million after bank error, gambles it away
Photographer: Getty Images
Copyright Getty Images
Posted: 06/20/2012
A Detroit man could spend more than a year in prison after a bank error reportedly allowed him to make unlimited ATM cash withdrawals from his account, which held a few dollars.
ABC News said 55-year-old Ronald Page took advantage of a bank glitch and took out $1,543,104 from Bank of America during the first part of August in 2009.
Page then lost the money on gambling, according to an article on Yahoo.com .
Page previously had an account with LaSalle Bank, which was reportedly acquired by Bank of America.
Yahoo.com said the glitch occurred during the transfer of account information.
Bank of America later placed a hold on his account, told Page his account was overdrawn, and demanded repayment, according to ABC News.
Page has not repaid the bank and is reportedly facing 15 months in prison.
The U.S. Attorney's Office also recommends that Page be prohibited from gambling. Read more.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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