PDA

View Full Version : Jackpot? Detroit Man Gambles Away $1.5M After Bank Error…And Now Faces 15 Months



Rockntractor
06-20-2012, 06:47 PM
55-year-old Ronald Page is facing 15 months in prison after a bank error allowed him to withdraw unlimited funds from his account, and he reportedly gambled away close to $1.5 million before anyone caught on.

Having retired after 30 years with General Motors, reports indicate that Page had an average of $100 dollars in his account at the end of each month for roughly six months before striking it big.

Then, mistakenly placed into a “pay all” category, Page was allowed to incur unlimited overdrafts. Having discovered the slip, he proceeded to withdraw $1,543,104 in a little over two weeks in August 2009, the U.S. Attorney’s Office in Detroit said. Most of the withdrawals were at casinos and cashiers.




According to ABC, “the party came to an end August 18, when his attempt to withdraw $52,000 from his account at Greektown Casino was denied. He also went to the Motor City Casino on August 19 and attempted to withdraw $51,400 from his account but was again denied.”

Now, ABC explains:

The U.S. Attorney’s Office recommended 15 months in prison for Page and that the court order restitution to Bank of America for the $1,543,104.

“In this case, the bank’s glitch allowed the defendant to lose a significant amount of money that was not even his in the first place,” states the U.S. Attorney’s sentencing memorandum, filed on June 11. “The fact that defendant acted on an impulse does not minimize the seriousness of his conduct and the need for a custodial sentence.”

They also recommended Page be prohibited from gambling activity, lotteries, or wagering of any kind and from entering the premises of any gambling casinos, horse tracks, bingo parlors, or dog races or wherever gambling activity is conducted.

Noting that he is not a violent offender, the memorandum justifies monitoring his gambling habits: “If his gambling addiction is not addressed, he is very likely to cause further financial hardship to himself and his family.” On top of that, though he will likely never be able to pay back the entire $1.5 million, he will be asked to pay an undetermined percentage.

Page’s official sentencing will take place June 27.
http://www.theblaze.com/stories/jackpot-detroit-man-gambles-away-1-5m-after-bank-error-and-now-faces-15-months-in-prison/

Apache
06-20-2012, 07:01 PM
Kinda sounds like someone else, don't it?



Who does that sound like... hmmmm :evil-grin:

NJCardFan
06-20-2012, 07:14 PM
I'm waiting patiently for the race pimps to claim racism here. He has to pay the money back. Imagine that. He won't pay back a dime.

noonwitch
06-21-2012, 08:49 AM
He knew what he was doing-he knew that money wasn't his and he should have notified the bank.


I have mixed feelings about the casinos in Detroit. I think people are responsible for their behavior. I also think gambling is a compulsion, not an addiction, and that a person can overcome it with counseling, not with a 12 step program.

Starbuck
06-21-2012, 10:00 AM
Greed is not an affliction of the rich. Greed exists at all levels. Maybe that's why he ended each month with "100 dollars in his account".

Hubie
06-21-2012, 11:37 AM
Question (and this may be a bit legally naive): why don't they ask the casinos for the money back? It's not like the money is just gone. It's not like he spent the money on something of value. He wasted the money sitting around for hours playing cards or something.

noonwitch
06-21-2012, 11:55 AM
Question (and this may be a bit legally naive): why don't they ask the casinos for the money back? It's not like the money is just gone. It's not like he spent the money on something of value. He wasted the money sitting around for hours playing cards or something.


I'm pretty sure that the casino committed no crime in obtaining the money, so by that standard, the money is theirs and responsibility to pay the bank back lies solely on the defendant.

Apache
06-21-2012, 12:47 PM
I'm pretty sure that the casino committed no crime in obtaining the money, so by that standard, the money is theirs and responsibility to pay the bank back lies solely on the defendant.

Agreed. The casinos provided a service ( like it or not ) and had no way of knowing that Mr. Page did not actually own the money being withdrawn. Mr. Page on the other hand, did know the money wasn't his and continued to run through it until he was caught...

Hubie
06-21-2012, 02:34 PM
Agreed. The casinos provided a service ( like it or not ) and had no way of knowing that Mr. Page did not actually own the money being withdrawn. Mr. Page on the other hand, did know the money wasn't his and continued to run through it until he was caught...

I'd personally balk at calling dealing cards in order to steal most people's money "a service," but that's neither here nor there. If it were me and I had received the money, I'd return it. I wouldn't want ill-gotten money on my hands no matter my ignorance of it being dirty. I wouldn't do it to get the guy off the hook, of course. I'd still support seeing him jailed and fined.

Apache
06-21-2012, 02:58 PM
I'd personally balk at calling dealing cards in order to steal most people's money "a service," but that's neither here nor there. If it were me and I had received the money, I'd return it. I wouldn't want ill-gotten money on my hands no matter my ignorance of it being dirty. I wouldn't do it to get the guy off the hook, of course. I'd still support seeing him jailed and fined.

Would you balk if he had spent the money in a supermarket, furniture store or travel? I get what you are saying, however the casino/s are a business ( i generally don't like them...but oh well ) Why should they take the hit for this man's fraud? B of A made a mistake, Page got greedy and an unwitting third party pays the price?


The two parties at fault need to work out the details...:friendly_wink:

Hubie
06-21-2012, 04:51 PM
Why should they take the hit for this man's fraud?

...an unwitting third party pays the price?

Think about that for a minute. I mean really think about it.

Madisonian
06-21-2012, 06:40 PM
So here we have a man that fraudulently obtains money from others, spends it frivolously and has no way to ever pay it back.

What Congressional district in Detroit is he running in?