Client cashes in on bank error - WDAM - TV 7 - News, Weather and Sports

Client cashes in on bank error

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A man deposited $430 into his account, but the bank mistakenly credited his account with $43,000. (Source: KOB/NBC) A man deposited $430 into his account, but the bank mistakenly credited his account with $43,000. (Source: KOB/NBC)
The man didn't notify the bank of their mistake. Instead he spent all the money and now refuses to pay it back. (Source: KOB/NBC The man didn't notify the bank of their mistake. Instead he spent all the money and now refuses to pay it back. (Source: KOB/NBC

(KOB/NBC) - Imagine depositing a check at your local bank for $430 but getting credit for $43,000. Police say that's what happened to a Roswell, NM man.

Instead of notifying the bank, police say the man quietly spent all the cash. When the bank discovered the error, they told the man he must repay all of the money.

That was in November. The bank has reached out to the man multiple times. Police say a bank official has spoken to him by phone, but the man has yet to pay back the money. Now the bank is taking legal action.

Read more: http://bit.ly/1qQAWZ6

Copyright 2014 KOB via NBC. All rights reserved.

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