Bank confuses man with same name and gives him access to $5million account
Posted by Media Outrage on February 21st, 2008
This is definitely Commerce Bank’s fault.
Via Foxnews:
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The lesser-funded Lovell gave away some of the withdrawn money and blew some of it on gifts, but lost much of it on bad investments, prosecutors said.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.
Mediaoutrage- He shouldn’t have to do a day in jail or repay the money. Commerce should have to reimburse the man’s account since they insisted that he spend the money.
