Update - Bank Error 5 Million Dollars


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The guy who ended up with over 5 million dollars in his bank account and who pulled out about 2 million dollars from his account, is taking the defense that the money was rightfully his, even though the money that ended up in his account was a managed by someone else, with the same name.

Attorney Julie Fry says Benjamin Lovell "didn’t intend to steal from anyone." She says he’ll explain in court what the bank told him that led him to believe the $5.8 million account was his.

I do not think this will hold up in court, because in an early interview he admitted to knowing he only had $800 dollars in his account. So for him to be taking the stand that it is rightfully his, is the wrong attitude. Most likely the idea was instilled in him by his attorney, who is trying to get some time in the spot light. The sad part is that, this may be his only arguing point, since he already spent a good amount of the money. To bad the investments he made didn’t turn out, they went south in only a few days…..

Authorities say Lovell spent the misbegotten money on jewelry, cash gifts to friends and failed investments.

Goes back to the idea, if you took all the wealth from the rich, and gave it to the poor. In short order, the wealthy will have their money back, and the poor people will be poor again.

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One Comment

  1. Posted February 23, 2008 at 7:17 pm | Permalink

    I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you.

    Tom Humes

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