Bank of America Out 1.5 Million After a Man's Gambling Spree - as part of the news series by GeoBeats.
Bank of America is out 1.5 million dollars due to an out of control gambler.
Ronald Page thought he hit the jackpot when a bank glitch allowed him to withdraw $312,000.00 dollars from an ATM on Aug 1st, 2009. Then he promptly went and blew the stolen money at the Greektown Casino in Detroit. Page didn’t stop and was able to remove another $51,000.00 dollars.
According to reports, Bank of America incorrectly labeled his account as a “pay all” status which allowed him access to unlimited funds with no overdraft notice. Page, who typically carries an average of $100 dollars in his bank account, went on a 15 day cash grab and gambling spree before bank officials put an end to it. All in all, he was able to withdraw over 1.5 million dollars before he was caught.
Suggesting a 15 month incarceration, the US Attorney has also recommended that “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.”