Getting More Money, Again (Not Me, Sadly Enough)

[Update: Got a great reply from Mike Kainrath himself. Copied it, and added my own comments, on a new post]

Some people have a truly complicated life.
Like poor Mike Kainrath from Virginia, who got $1,789,830.61 deposited into his bank account by mistake. And he’s a chronic: that’s the third time such things happened to him.

What seems strange is that it took until he noticed it, and reported it (Well, he’s an honest person. Maybe not a particularly bright one, but honest), before it was taken care of. It means that whoever was supposed to receive this money did not notice for at least several days that the money was missing.

One thing I can promise is that if I was due to receive about $1.8 million, I’d check. Repeatedly. And if it was late, I would scream, and I would yell, and I would  generally raise hell (Hey, a spontaneous rhyme. Cool.).

The intended recipient didn’t. Nice to know there are people (corporations?) out there that can be indifferent to such small pittance. The economy must be perking up.

What’s worse, while they did get the money eventually, they lost the interest. Mike here thinks to set his account to interest-bearing to be prepared for next time. But someone that should have gotten the money and done something profitable with it, did not. I wonder if they’ll sue the bank? They could check what gave the best return-for-money during the period, and claim that this is what they wanted the money for. Easy for them to prove damages, hard for the bank to prove what would have really happened.

Why don’t I get these sort of mistakes? It’s not fair. He got three, and I got none…

2 Responses to “Getting More Money, Again (Not Me, Sadly Enough)”

  1. Mike Kainrath says:

    Hey cool comments!

    Yes, I’m the guy…the rest of the story is the bank charges me a $12.50 wire fee to send the money back! They refund it…but its another call.

    Turns out that the bank in the Antilles but my bank’s routing number down in error. 99% of the time banks don’t have the same account numbers. My bank saw the correct routing number and a valid account number and so they put it in my account. How were they to know? It is this foreign bank that keeps putting it in.

    Always the same bank–I thought it was drug money being laundered through my account. The FBI did not think so because I have to initiate the correction.

    Now I’m concerned that I may have an audit flag by the IRS on my social because I keep receiving these deposits. Don’t banks have to report these?

    I cannot believe how this story has taken off. I had a call from CBS news, NPR and been interviewed on the local radio here. The story has been picked up by the Russian press as well and I can see the story translated into Russian on the internet. All very cool.

    Thanks for the comments. I enjoyed reading them!


  2. Post author comments:

    Hi, Mike.
    Thanks a lot for replying here, and providing some more details.
    It was totally unexpected to hear from you, and very welcome.

    Hope you don’t mind, I published a new post with, and about, your comment. Since this is a three weeks old post, that should give someone besides me a chance to see your followup.

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