Citibank sends a hedge fund $175 million by mistake, hedge fund runs off on the plug

[Novembruh]

But let me get high one night and accidentally fukk up a decimal place and send off a G when I meant to toss a $10. Ain't no legal recourse there for me. Bank wouldn't be bending over backwards to get me my money back for my mistake. So how is it that they want to be protected when they make a mistake?

Oh. The same reason why they get bail-outs while regular people go broke, then have the temerity to charge fees on empty accounts? Word? Bet.

fukk citibank and they mamas, too

 

[itsyoung!!]

if I overpay Citibank, on say a loan, by mistake and ask for that money back they gone say no or at best say theyll credit it to a future billing date

so, thats what the hedgefund should say back

 

[Atlrocafella]

Working for a bank myself, how did wire that big get initiated and pass through multiple people and still get sent to the wrong company? , unless the initiator and approved is 1 person.

 

[Loose]

They don't. This is an existing client so in the interest of brevity the usual checks and balances might be off.
I won't get into the stuff about banking bots etc

Nope regardless of the existing clients relation one person would not be responsible for a wire this big.thats not happening post 2012 after the mexico branch fiasco

Spoiler: Spoiler

I used to work for them

 

[ORDER_66]

Mistake¿!? they never seeing that money again

 

[Savvir]

They gonna get the money back after the lawsuit goes through the process.

Hedge fund only holding out cuz they trying to double up on that cash before they have to return it.

 

[Elim Garak]

Nope

 

[shopthatwrecks]

what money

 

[Absolut]

They owed that amount for debts. If that is what they owe, how can they justify asking for it back? If I owe the bank 1k and fat finger a 100 loan payment and make it 1k instead, since that money is owed anyways I wouldn’t get it back

 

[Kyle C. Barker]

huge difference in the application of the law when you're rich and when you're poor.

you get mistakenly sent couple thousand and they tell you off the bat, "if you spend it's theft." these guys have a tenuous reason to keep that money and you know they doubling it.

Exactly!


One Georgia teen learned this the hard way. After spending $30,000 in his bank account that didn't belong to him, the young man earned a 10-year sentence, according to local news reports. A teller had deposited a check from a client with the same last name into the teen's account; he spent most of the funds on a BMW.

Bank error in your favor! So ... do you get to keep the free cash?


If you are poor they'll get your ass locked up with the quickness.