A retiree in Altoona, PA says that his bank told him he could spend the $280,276.76 that was mysteriously deposited in his account. He knew it wasn’t his, but the bank assured him that everything was in order and he was free to start spending.

From the Pittsburgh Tribune-Review:

His checking account with First Commonwealth Bank showed an Oct. 23 deposit of $280,276.76. The Altoona retiree said he knew the staggering amount of money didn’t belong to him, or to his wife, Becky, so he called the bank — several times — to report the mistake, his attorney said.

Starbird’s attorney said the bank assured his client more than once that everything was in order, that the deposit was accurate, that all was OK with his account. So, Starbird and his wife began to spend their unexpected windfall, thinking that an anonymous benefactor had given them an awesome gift of free money.

Yeah, not quite. Now the bank is suing Herbert Starbird, claiming that he never contacted the bank. By the time the bank noticed the error, Mr. Starbird and his wife had spent $163,330.37. The bank recovered $102,935.48 that remained in Starbird’s checking account and took $14,010.91 from his savings account, according to the lawsuit. Starbird’s lawyer says that his client has been trying to pay the bank back, but doesn’t want to mortgage his house to do it and would like an interest free payment plan. The Tribune-Review says that the lawsuit shows Starbird has made two payments so far: $624.25, and $5,500.

Couple say they began spending after bank’s OK [Pittsburgh Tribune-Review] (Thanks, Justin!)

(Photo: This Year’s Love )

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