When Luke Moore’s bank didn’t realize an administrative error allowed him to go into millions of dollars into overdraft, he kept on spending. Despite thousands of dollars of interest piling up in his account, the now 29-year-old Australian spent over C$2 million on luxury cars, boats, strippers and booze between 2010 and 2012, before St. George Bank realized its error.
Financial fraud or bank’s mistake?
Moore was later convicted of fraud and sentenced to four-and-a-half years in prison. But the fraud conviction was overturned in appellate court this month. The judge found that Moore’s actions were not criminal as he had not deceived the bank into giving him the money; it was simply the bank’s mistake.
Read more at Global News.