More From Mike Kainrath

Remember the story from three weeks ago about Mike Kainrath, the guy who received around $1.78 million by mistake?

Surprisingly, in a very good way, he responded to my post with some more details and followup. Since that post is old, I figured it was better to copy the response in a new post, and comment here instead of back there. Otherwise maybe no-one but me will notice, which would be a pity, since he’s worth reading.

Here’s what he had to say:

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!


It’s really great hearing from you Mike. I’m glad you liked what I had to say. And that you didn’t take the "Maybe not a particularly bright one" quip in a more serious way than the one it was written in.

I must admit that I find the charge for returning the money to be hilarious. The story up to that point does have it’s amusing aspects, but it’s mostly just a very large and interesting mistake (With a lot of impractical wishful thinking). Charging for returning the money, however, passes it into the realm of a very surreal sitcom… One of the very few cases I can write LOL and mean that I literally did.

Being a geographical ignoramus, I didn’t have a clue where Antilles is, and had to run a quick search. Here’s what the CIA’s World Factbook had to say about Antilles (besides a lot of other less relevant information):

transshipment point for South American drugs bound for the US and Europe; money-laundering center

I can certainly see how drugs and money laundering would be a genuine concern. Although, perhaps due to the effects of too many bad drug-related thriller movies, I’d expect a banker that work with drug cartels not to make these sorts of mistakes. Not more than once, anyway.

I’m not at all surprised that the story received a lot of media attention. People getting a lot of money is always a popular subject (at least when it’s not due to years of hard work). Banks making mistakes with money is also a popular subject. Heck, money is a popular subject.
This way at least Mike can get something out of it besides a headache and a small addition to his phone bill.

Hmm. He can also try to ask his bank if they want to do a TV commercial with him. he can honestly say that at any other bank he would never have gotten so much money in his account… ;-)

Naturally I expect the whole thing wasn’t as fun for Mike as it is for
me, or for other people who read about it. It’s nice to imagine what I could
do with those amount of money, but getting it like that for real is a
problem and a major headache. As is clearly evident from Mike’s very realistic worries

Mike, I do hope there won’t be any further problems for you with the IRS, the FBI, your drug cartel of choice, or anyone else. At least not until next time…

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