Bank Accidentally Gives Man $5 Million!

New York (AP) - 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 The lesser-funded Lovell gave away some of the withdrawn money and blew some of it on gifts, but lost much of it on bad investments, prosecutors said.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.
The less fortunate Lovell should not be drawn up on these charges because although he must of known there had to be a mistake, however the bank should not have insisted it was his money. Plus the Lovell should have realized that a significant amount of money was missing from his account. This man obviously had the money for a decent amount of time to lose it on investments. I feel that this man should not be arrested and Commerce Bank should replace the money to the correct Lovell due to their major error. It is not the other mans fault that he used this money that was not his because honestly it is human nature to value money and when someone is giving you free money of course you are going to take it.