J Menz I chose you!!!

[rachmaninoff_forever]

https://gawker.com/bank-accidentally-deposits-31k-in-teens-account-hero-1552818208

Can he still be prosecuted if he spent all that cash before the bank told him to return the money?

I would've done the exact same thing that kid did.  Except I would've spent it on something else.  Like forwarding my plans to end the world.

If anything the bank should be held responsible.  

I know you're a professional pianist and all, but you're a lawyer too right?

[cabbynum]

https://gawker.com/bank-accidentally-deposits-31k-in-teens-account-hero-1552818208

Can he still be prosecuted if he spent all that cash before the bank told him to return the money?

I would've done the exact same thing that kid did.  Except I would've spent it on something else.  Like forwarding my plans to end the world.

If anything the bank should be held responsible.  

I know you're a professional pianist and all, but you're a lawyer too right?

I hear he is also a woman.
And a dentist

[rachmaninoff_forever]

I hear he is also a woman.
And a dentist

I guess he still hasn't gotten rid of his aternate personalities yet.
Sigh...

[j_menz]

I guess he still hasn't gotten rid of his aternate personalities yet.
Sigh...

Hey, I make good money renting them out. 

And yes, he can be prosecuted.  You're supposed to know, at least vaguely, what your bank balance is, and know if you suddenly get money in there by mistake (and report it to the bank, not spend it). Finders keepers doesn't work at law.

[Bob]

Yes, the bank would prosecute. 

It used to be that the smart move was to wait for the bank to realize the mistake and in the meantime to invest that extra money -- Put the extra money in an account that earns interest.  Give them back their money, keep the interest earned.  Just "hold onto their money for them" instead of actually doing anything with it.  Now, you'd make a $1 from interest on that $31,000.

[rachmaninoff_forever]

And yes, he can be prosecuted.  You're supposed to know, at least vaguely, what your bank balance is, and know if you suddenly get money in there by mistake (and report it to the bank, not spend it). Finders keepers doesn't work at law.

Well what if you just have a secret admirer deposit you money every once in a while?

That's so lame!!!!

It's the banks freaking fault!!!

This is why this world needs to end!

[Bob]

He should send them a bill for personal processing fees, time, etc.  Nickel and dime everything the way the bank does.    Plus a mistake charge, account usage fee, account misusage fee, some random charges and fees that aren't specific at all, some fees with only a few letters in the title....

[j_menz]

Well what if you just have a secret admirer deposit you money every once in a while?

I think if a secret admirer knows your banking details they get an upgrade to stalker.

That's so lame!!!!

It's the banks freaking fault!!!

This is why this world needs to end!

And there goes your chance of getting a loan to bring it about. Mysteria don't come cheap, you know.  

[thalbergmad]

And yes, he can be prosecuted. 

Indeed, this is the same in jolly old England. However, I do recall a case a few years ago where a judged ruled that a person who received 10 million in error, was allowed to keep the interest.

Thal

[ahinton]

I had this kind of thing happen to me years ago. The problem was that each of the several payments into my bank account had been made in cash with no payer ID and their origin was therefore untraceable. The amounts were not large (sadly!); they varied, as best I now recall, from around £15 to close to £200. It happened over a period of around 18 months and then ceased as mysteriously as it had commenced.

I did report the first one to the bank when first I noticed it but, as the bank advised, nothing could be done unless the payer first advise his/her bank that they had made a payment in error and, as each such payment had indeed been made in cash with no payer ID, no payer would have been able to prove that this is indeed what had happened. I kept the cash. I did not declare it to the UK Inland Revenue.

When I had a tax investigation a couple of years after this had stopped, the Revenue found out about the payments when investigating activity on my bank account and asked me about it. I replied that I had not declared the amounts because I had neither expected them nor requested them for any reason and that I had no idea of their origin or purpose; I also told them that I had reported them to the bank who said that nothing could be done about them and I advised them to check with the bank as I imagined the bank to have it on file that I had indeed reported these incidents. The Revenue did so and the bank corroborated my evidence. And that was that.

If anyone here would like to repeat this exercise, please feel free to do so; my bank details may be found on the Sorabji Archive website.

Best,

Alistair