Bank glitch allows gambler to withdraw $1.5m at three casinos (of course, he blew it all)
For one punter, such a scenario happened several times when he went to casinos’ cash windows. And in the end, a retired car worker in Detroit managed to withdraw around $1.5million before being caught.
Ronald Page, 56, is now facing jail time with prosecutors asking for at least 15 months after putting some of the blame for his bottomless credit card on the banks.
In reality, Page only had a few hundred in his account, but was left stunned and slightly greedy when he suddenly realised what a gold mine his card had become.
A glitch in the system allowed him to continue taking out large sums, and in the end racked up a seven-figure debt which he then gambled away.
Page used the ATM at a Detroit casino and it allowed him to make unlimited withdrawals.
The ATM spat out whatever amount Page requested and the same thing happened when he made cash withdrawals at the casino window.
Page continued to make withdrawals and gamble again, and again.
Before Bank of America caught on, Page had withdrawn $312,000 at Greektown Casino, $103,000 at MGM Grand Casino and $514,000 at Motor City Casino.
After 15 days of unlimited withdrawals the bank put a stop on the account, but not before $1.5 million was withdrawn and then gambled away.
Now, a federal judge has to decide what to do with Page.
Prosecutors recommended 15 months in prison because they believe Page had a lapse of judgment and the bank was at fault for allowing this to happen.
Page will face sentencing on June 27th.