Tuesday, January 6, 2015

Bank of America Glitch Allows a Gambler to Withdraw and Lose $1.5 Million

In 2012, retired Flint Michigan autoworker Ronald Paige discovered that he was able to withdraw vast sums of money from Bank of America ATMs.

For 14 days, Paige was able to withdraw - and subsequently gamble away - the bank's money due to a “glitch” in their ATMs at several casinos in the area. 

During his almost non-stop spree (he went 36 hours without sleep) he had withdrawn $1,543,100. 

Paige was “completely apologetic.” Nonetheless, he was sentenced to 15 days in prison and ordered to repay the $1.5 million in installments from his $2000 monthly pension. 

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