Bank error in his favor ... compounded

[TJ Phaserman 2]

NEW YORK - A man was charged with withdrawing $2 million from an account after a bank confused him with a man who has the same name.

 

Benjamin Lovell was arraigned Tuesday on grand larceny charges. The 48-year-old salesman said he tried to tell officials at Commerce Bank in December that he did not have a $5 million account. He says he was told it was his and he could withdraw the money.

 

Prosecutors said the bank — which advertises itself as America's Most Convenient Bank — confused Lovell with a Benjamin Lovell who works for a property management company.

 

The lesser-funded Lovell gave away some of the withdrawn money and blew some of it on gifts, but lost much of it on bad investments, prosecutors said.

 

The district attorney's office did not immediately have information on his lawyer. Calls left with Commerce Bank on Wednesday were not immediately returned.

 

talk about mistaken identity...

[MrPsychic 1]

What I don't get is how the first guy could be charged with grand larceny if he wasn't the one who gave him the money. He even said it wasn't him with the account, but the bank said he was.

[oldfan1 0]

He can be charged with grand larceny because he took the money knowing that is was not his. The bank is liable to the original depositer for the money, however the 2nd Mr. Lovell stole the money as it was not his money and he was not entitled to it, the money was the property of the first Mr. Lovell.

[Wishfire 2]

Well, it's the bank's fault. They should've kept their mouth shut.

[Theunicornhunter 2]

First, as I always say - there's got to be more to the story - like exactly how he made the withdrawal and who told him it was there etc.

 

If someone told me I had $5 Million I'd demand to speak to the manager - anybody with any sense knows you just don't get handed over that kind of money without consequences and the piper must be paid. I'm guessing some former bank employee is collecting unemployment.