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While I know this happens occasionally. Shouldn't it be the banks responsibility to have insurance for this type of error? If the money is in your account, it's your account. I'm sure there's legal precedent I don't know about, but just seems odd that it's a crime to spend money in your account.
If I've written someone a check, it's not impossible for them to wire me money without me knowing. They have the account and routing number to my banking institution.
WookieMan saysWhile I know this happens occasionally. Shouldn't it be the banks responsibility to have insurance for this type of error? If the money is in your account, it's your account. I'm sure there's legal precedent I don't know about, but just seems odd that it's a crime to spend money in your account.
If I've written someone a check, it's not impossible for them to wire me money without me knowing. They have the account and routing number to my banking institution.
That would all be logical, except the laws are written in favor of the rich i.e. the bank.
If you write somebody a check clearly in error say for $10000 and it says electrical work and you have a bill for it for $1000 so you can prove it was erroneous the other person will have to return you the money as well.
mell saysIf you write somebody a check clearly in error say for $10000 and it says electrical work and you have a bill for it for $1000 so you can prove it was erroneous the other person will have to return you the money as well.
And if that person just kept your money it would be opportunistic theft.
ohomen171 saysI asked my domestic partner
Is that what you called your live in girlfriend in 1988?
Did you just assume xer pardner's gender?
Ceffer saysDoes this mean Elena is a grifter?
Who DA FUCK is 'Elena'?
RC2006 saysHis trans real doll.
WHOSE trans real doll?
If you write somebody a check clearly in error say for $10000 and it says electrical workI suppose you haven't tried to get price quotes for redoing all the electrical in a shack like mine in silicon valley. Bill will be closer to $10k than to $1k.
mell saysIf you write somebody a check clearly in error say for $10000 and it says electrical workI suppose you haven't tried to get price quotes for redoing all the electrical in a shack like mine in silicon valley. Bill will be closer to $10k than to $1k.
had identical first and last name;One of the early People's Courts when Judge Joseph Wopner was presiding was exactly like that. An heir received an estate distribution for $900 after everything was settled, but the check was placed in an account with the exact names, but the wrong person. When the correct beneficiary contacted the wrong person after somehow finding out, they didn't want to give up the money. He finally took the wrong recipient to court who still firmly argued that he should be able to keep the money. The judge asked him if he was an heir of such and such, which of course he wasn't. He responded that he offered to return half of the money, but the judge explained that he wasn't entitled to any of it. It's the law that if a wrong deposit is placed in your account, it's still not yours and judgment was made in favor of the plaintiff. The Bible, from which our laws evolved, explains the reason for laws in 1 Timothy 1:9:
NEW YORK, April 13 (Reuters) - Charles Schwab Corp is suing one of its former customers after the retail brokerage allegedly sent more than $1.2 million to an account of the Louisiana woman and then could not get the money back.
Schwab meant to send $82.56 to Kelyn Spadoni's Fidelity Brokerage Services account in February, but a computer glitch caused it to erroneously transfer more than $1.2 million, according to the lawsuit.
Schwab tried to get the money back, but repeated calls and texts to Spadoni, who lives in a suburb of New Orleans, were not returned, the brokerage said in the lawsuit.
Schwab meant to send $82.56 to Kelyn Spadoni's Fidelity Brokerage Services account in February, but a computer glitch caused it to erroneously transfer more than $1.2 million, according to the lawsuit.
Hey, Schwab, learn to code!
Charles Schwab caught up to her. They told her that they had deposited the large sum into her account by error. They demanded the return of the money. She could not return it all. The Jefferson Parish Sheriff's Department has changed her with bank fraud and grand theft.
In the US legal system such an erroneous deposit of funds to an account is deemed to be a criminal offense. After all, you knew that the money was not yours. In a country with a British Common Law legal system views such matters differently. Such an error is deemed to be negligence on the part of the financial institution. A civil suit is filed to recover the funds.
This story takes me back to January of 1988. I was living in L.A. at the time. I was drowsy when I awakened one morning. I opened my mail from the previous day. One letter was from my money market fund Capital Preservation Fund. I looked at my statement. I normally kept $1,000 US in the account. I was shocked to see a balance of $310,000 US. I asked my domestic partner Antonieta to confirm this balance. She confirmed it.
At that time, I was working as a paralegal at a personal injury law firm. When I arrived at work, I went right into the senior partner's office. I showed him the statement. He laughed long and hard. When he regained his composure, he gave me the following advice:
"Jack, if you take any of this money, you will go to jail. On the other hand, any interest earned while the money sits in the account is yours."
It took several months for the financial institution to discover the error and remove the funds. I made a tidy amount of money off the interest. The financial institution praised my honesty. The grandson of the founder became a friend of mine.