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Teen Gets $31K in Bank Error, Goes Shopping

Unfortunately, the bank wants the money back
By Newser Editors and Wire Services
Posted Mar 27, 2014 12:24 PM CDT
Teen Gets $31K in Bank Error, Goes Shopping

Quick, what do you do if your bank mistakenly deposits $31,000 into your account? Well, if you're 18, you set about spending every last penny as fast as humanly possible, apparently. The Athens Banner-Herald reports that a local teen is in trouble after sheriff's deputies say he tried to do just that. So far, no charges have been filed, but the bank wants its money back, and the teen is working on it.

The trouble began when someone deposited $31,000 and called the bank afterward when it failed to show up in his account. The bank realized it mistakenly put the money into the account of the teen, who has the same name. By then, however, he had spent $5,000 with his ATM card and withdrawn another $20,000 in cash. He initially told the bank and deputies that the money was his through an inheritance before promising to work out a deal with the bank. "Alas, he has yet to make good on that promise and now officials are considering whether or not to prosecute," says the Consumerist. (More banks stories.)

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