[Harvey Specter]

WELLINGTON, New Zealand – Police are looking for a New Zealand couple who disappeared after a bank mistakenly put 10 million New Zealand dollars ($6.1 million) into their account.

The couple, who ran a gas station in the northern city of Rotorua, applied to Westpac Bank for a NZ$10,000 ($6,000) overdraft and had 1000 times that amount paid into their account. The two then withdrew some of the money and disappeared, Detective Senior Sgt. David Harvey said.

Harvey said Interpol has been contacted for help, suggesting authorities believe they may have fled abroad with the cash.

"We are currently conducting an investigation into the individuals that may have been involved in the withdrawal of that money," Harvey said.

Westpac Bank said in a statement it was "pursing vigorous criminal and civil action to recover the sum of money stolen," but declined further comment.

Massey University banking lecturer Claire Matthews said the "lucky" recipients likely would not get away with the cash.

"They've effectively, I guess, become thieves — but it is only going to be a matter of time" before they are found, she told the NewstalkZB radio network.

The pair would be hard pressed to argue they honestly believed they were entitled to such a huge sum of money, she added.

http://news.yahoo.com/s/ap/20090521/ap_on_fe_st/as_odd_new_zealand_bank_blunder
.

[XplodeTheBass]

Damn, I wish i could jus look in my bank account and find 10 mil. If i were them id get outta Newzealand.... fast.

[J____]

fuk for 6 mil, i'd give up my canadian citizenship haha

[CanadaGoose]

No way, my citizenship is worth way more then that to me!

[eurochevy]

fuk for 6 mil, i'd give up my canadian citizenship haha

where u gonna live...with rednecks? lol

[Lomac]

They'll probably argue that they didn't flee and that they were merely on an impromptu vacation.

[hotjoint]

wow crazy

[urrh]

finders keepers
thats the law

[wouwou]

finders keepers
thats the law

exactly

that's why when the popo find them, the popo will also keep them for life

[3seriesBeeM]

id be changing my identity and moving south of the border or somewhere tropical with that cash its basically like winning a lottery

[SkinnyPupp]

With that money it can't be impossible to buy new identities

[HongKongG]

Fucking hell.

[InvisibleSoul]

I'm wondering exactly how much they withdrew before they fled. I highly doubt they were able to withdraw the entire $6M and take it with them... probably a very small portion of that.

[!LittleDragon]

6 million? How the hell would you carry that around? Maybe they got a certified cheque or bank draft at the bank before they noticed the error?

[AVS_Racing]

http://i64.photobucket.com/albums/h166/Nikon1_photos/Money%20Images/1Million.jpg

thats 1 mill right there ^^^^

6 mill in cash isnt hard to hide haha il take that in my LV duffel

[taylor192]

Swiss bank account and live in the Caribbean. Set for life.

[Chairman Kaga]

Swiss bank account and live in the Caribbean. Set for life.

^ + buy a new identity with the money = win!

[Manic!]

http://i64.photobucket.com/albums/h166/Nikon1_photos/Money%20Images/1Million.jpg

thats 1 mill right there ^^^^

6 mill in cash isnt hard to hide haha il take that in my LV duffel
But what bank has 6 mill cash on hand?

[AVS_Racing]

that i dunno haha. but then technically it should be the banks fault cuz clearly its their mistake. like a store if they put wrong price tag on u get it for the cheaper price

[Manic!]

that i dunno haha. but then technically it should be the banks fault cuz clearly its their mistake. like a store if they put wrong price tag on u get it for the cheaper price

The store does not have to sell it to you for the lower price.

[!LittleDragon]

But what bank has 6 mill cash on hand?

Yeah, you can't just show up and withdraw that much in cash. I had to call ahead to withdraw just $5k. On top of that, a suitcase full of money won't make it through an airport/customs very easily.

[sexyaccord]

finders keepers
thats the law

thats not the law,
you only have possession of the "good", but not the title of the good.
you are only in a bailment situation

[shenmecar]

actually its just under 7 mill CAD. it was on the news about an hr ago.

[q0192837465]

I'd dig a hole & bury the money

[Psykopathik]

like the others say. swiss bank account or Cayman Islands bank. leave canada forever. fly my friends over, first class, if i get lonely

but seriously, what can they do? throw you in minimum security prison for a few years? (if u get caught) when you're out you're ballin'!

shit i could do that too!

[SumAznGuy]

The store does not have to sell it to you for the lower price.


Yes they do, in BC. It's the law.

[Psykopathik]

Yes they do, in BC. It's the law.

i always though prices were "an invitation to buy" however the store has the right to refuse service, do they not? maybe citing price error/typo etc.

EG: Staples and Futureshop's BS

[liu13]

moving to Thailand or the Philippines somewhere tropical, chill out and fly friends and family over whenever they have vaca time

[twitchyzero]

i always though prices were "an invitation to buy" however the store has the right to refuse service, do they not? maybe citing price error/typo etc.

EG: Staples and Futureshop's BS
thats correct
they save their asses with exceptions

[Shun Izaki]

6 mill is nothing... you can't live your life on that! :P

i'd at least need 16 million dollars, so that my money could perpetually MAKE money for me.

[InvisibleSoul]

Yes they do, in BC. It's the law.
No, it's not.

Many of the stores like Superstore, Wal-Mart, Zellers, Shopper's Drug Mart, etc. participate in the Scanning Code of Practice (SCOP), where if an item rings up at a higher price than what it says on the shelf or elsewhere, then they are obligated to give you the lowest stated price. SCOP is a voluntary program that stores can adhere to, but it is not the law.

[hk20000]

6 mills all stored in a tax free savings account makes quite a good lumpsum for your spending.

So now you can work as a "hobby" instead rofl

[Armind]

I want =(

[johny]

did the bank give them 6 mill into their acount?, or give them a 6 million overdraft limit??...

if the 2nd, they did nothing illegal, but are going to have a huge interest bill when they are found and have to pay the "loan" back.

[way2quik]

One of the employees accidentally deposited $250,000 in my account one day and immediately I got a call telling me they made a mistake. It was for someone else. My 5 seconds of joy right there.

[nipples]

No, it's not.

Many of the stores like Superstore, Wal-Mart, Zellers, Shopper's Drug Mart, etc. participate in the Scanning Code of Practice (SCOP), where if an item rings up at a higher price than what it says on the shelf or elsewhere, then they are obligated to give you the lowest stated price. SCOP is a voluntary program that stores can adhere to, but it is not the law.

regardless of the sop the company uses, it still violates the comeptitin act of consumer law. they must take the lower of the two visibly legible prices.

[edit] i believe some places like shoppers n stuff follow it to a Tee where items under 5? 10? something that the price error results in the item being free of charge by way of an immediate rebate

[nipples]

but yeah, i'm wondering what kinda atm or bank teller gave em the money. you'd have to take a large chunk of that to make it worth while to leave. i need to find a bank like that

[Razor Ramon HG]

This reminds me shit I saw in the Bourne trilogy.

[Gt-R R34]

No, it's not.

Many of the stores like Superstore, Wal-Mart, Zellers, Shopper's Drug Mart, etc. participate in the Scanning Code of Practice (SCOP), where if an item rings up at a higher price than what it says on the shelf or elsewhere, then they are obligated to give you the lowest stated price. SCOP is a voluntary program that stores can adhere to, but it is not the law.

nipples is right,

http://www.cb-bc.gc.ca/eic/site/cb-bc.nsf/eng/h_00148.html

I've been told countless times, whatever they have label, they have to sell it to you at the price. They can change it right after though.

[nipples]

thats correct
they save their asses with exceptions

it's not really an exception. it depends on the medium. if the price was in a catalogue type of thng where it states that prices are subject to error blah blah blah and the issue a correction. But if you're in the store and see the price is totally wrong while still advertising the correct item, they've gotta do it.

But it's been my experience that they usually err on the HIGHER side of things, or they didnt have it in my size.

[Manic!]

nipples is right,

http://www.cb-bc.gc.ca/eic/site/cb-bc.nsf/eng/h_00148.html

I've been told countless times, whatever they have label, they have to sell it to you at the price. They can change it right after though.

Sweet I'm going to FS and put a $5 price tag on a new plasma TV and then get my buddy to go in and buy it.

If the store won't sell it to you at a lower price what are you going to do call the cops?

[InvisibleSoul]

[edit] i believe some places like shoppers n stuff follow it to a Tee where items under 5? 10? something that the price error results in the item being free of charge by way of an immediate rebate
That is part of the Scanning Code of Practice.

For those that participate in SCOP, if the item is $10 or less, you are entitled to receive the item free. If the item is over $10, you are entitled to receive $10 off the purchase price.

[InvisibleSoul]

nipples is right,

http://www.cb-bc.gc.ca/eic/site/cb-bc.nsf/eng/h_00148.html

I've been told countless times, whatever they have label, they have to sell it to you at the price. They can change it right after though.
Which clause there states that?

[nipples]

It's called double ticking? double ticketing? something liek that.
you can google it

[nipples]

http://laws.justice.gc.ca/en/showdoc/cs/C-34/bo-ga:l_VI//en#anchorbo-ga:l_VI

nvm. found it. section 54

[JSALES]

wow, i wish i'd go to the bank some day and find that much cash. almost like that guy in the movie eagle eye

[fliptuner]

did the bank give them 6 mill into their acount?, or give them a 6 million overdraft limit??...

if the 2nd, they did nothing illegal, but are going to have a huge interest bill when they are found and have to pay the "loan" back.

That's exactly what I was thinking.

[nipples]

^ LOL
6M at say 5% interest is only 25k a year LOL

[InvisibleSoul]

http://laws.justice.gc.ca/en/showdoc/cs/C-34/bo-ga:l_VI//en#anchorbo-ga:l_VI

nvm. found it. section 54

54. (1) No person shall supply a product at a price that exceeds the lowest of two or more prices clearly expressed by him or on his behalf, in respect of the product in the quantity in which it is so supplied and at the time at which it is so supplied,

(a) on the product, its wrapper or container;
(b) on anything attached to, inserted in or accompanying the product, its wrapper or container or anything on which the product is mounted for display or sale; or
(c) on an in-store or other point-of-purchase display or advertise ment.

(2) Any person who contravenes subsection (1) is guilty of an offence and liable on summary conviction to a fine not exceeding ten thousand dollars or to imprisonment for a term not exceeding one year or to both.
There must be more to this. There is no way it can be that cut and dry. So anytime there is a price mistake, they have to abide by it? There's no possible way.

If going by those clauses to the very word, nowhere does it say they have to sell it to you at the lower price. It just says they can't sell it to you at the higher price. But that means they reserve the right to not sell it to you at all.

If that is the case, then after they have removed any incorrect signs showing the lower price, then they can sell it to you at the higher price, and they would not be in violation of section 54.

I dunno... that's how I see it.

[Manic!]

^ LOL
6M at say 5% interest is only 25k a year LOL

You need to recheck your math.

[underscore]

^ LOL
6M at say 5% interest is only 25k a year LOL

6 mill is nothing... you can't live your life on that! :P

i'd at least need 16 million dollars, so that my money could perpetually MAKE money for me.

wtf is wrong with you guys? go live in Thailand and you're loaded for life. or invest it for better returns.

the best plan though, would be to withdraw as much as possible, stash it, and then call in identity theft. you'd have to pull off a lot very quickly and cleanly to make that buyable, but as long as the money is hidden well, they have no evidence to prove you took and kept the money.

[Timpo]

Swiss bank FTW

[iEatClams]

There must be more to this. There is no way it can be that cut and dry. So anytime there is a price mistake, they have to abide by it? There's no possible way.

If going by those clauses to the very word, nowhere does it say they have to sell it to you at the lower price. It just says they can't sell it to you at the higher price. But that means they reserve the right to not sell it to you at all.

If that is the case, then after they have removed any incorrect signs showing the lower price, then they can sell it to you at the higher price, and they would not be in violation of section 54.

I dunno... that's how I see it.

you are right man.

an advertisement is only an invitation to treat. there is no consideration given.

stores do not have to legally sell it for you if there is an incorrect label. the store can just say, sorry, wrong label. my lawyer friend who makes $300 K just told me this.

When you think about it, it makes total sense, if an employee of the motorcycle dealership as $240 instead of $2400. the dealership is not legally forced to sell it to the customer for $240.

ive had this happen to me at a couple stores where there was a price error and i knew it was too good to be true and someone just messed up.

[SkinnyPupp]

People who think that "THE LAW" says a store has to sell at misprinted sales tag prices = morons

[InvisibleSoul]

Many of the stores like Superstore, Wal-Mart, Zellers, Shopper's Drug Mart, etc. participate in the Scanning Code of Practice (SCOP), where if an item rings up at a higher price than what it says on the shelf or elsewhere, then they are obligated to give you the lowest stated price. SCOP is a voluntary program that stores can adhere to, but it is not the law.
Sorry, I don't know what the hell I was thinking when I wrote that. It's not correct.

I already posted what the correct version is in a subsequent post, but to reiterate, SCOP policy says that if an item rings in at a higher price than what is shown on any other displayed price, then you are entitled to the item for free if it's $10 or less, or for items more than $10, you get $10 off that item.

[StylinRed]

the article says they only withdrew some of the money not all of it



and it should be the banks fault and they should have to eat the mistake but noooo the banks run the world so now that couple is in the crapper :/

[Psykopathik]

6 mill is nothing... you can't live your life on that! :P

i'd at least need 16 million dollars, so that my money could perpetually MAKE money for me.

average joe earns $25k a year

live to 75, say ...work fo 60 years = $1.5M

then minus living expenses etc.

how can you say you cant live on 6M????

you cant even earn 6 M in 240 years nevermind living expenses.

you must live like a drug kingpin lol

[Lomac]

you are right man.

an advertisement is only an invitation to treat. there is no consideration given.

stores do not have to legally sell it for you if there is an incorrect label. the store can just say, sorry, wrong label. my lawyer friend who makes $300 K just told me this.

When you think about it, it makes total sense, if an employee of the motorcycle dealership as $240 instead of $2400. the dealership is not legally forced to sell it to the customer for $240.

ive had this happen to me at a couple stores where there was a price error and i knew it was too good to be true and someone just messed up.

Exactly. And think of it this way: Suppose you see a great deal on an LCD TV at Future Shop one week, but can't afford that price until after the sale is gone. So, what you do is steal the tag and keep it with you until you can afford it. Then you go back to Future Shop, put the tag on the shelf and try to buy the product at that price. Think they're then forced to sell it for that price? Nope.

[achiam]

^ LOL
6M at say 5% interest is only 25k a year LOL

$25,000/month

[achiam]

average joe earns $25k a year

live to 75, say ...work fo 60 years = $1.5M

then minus living expenses etc.

how can you say you cant live on 6M????

you cant even earn 6 M in 240 years nevermind living expenses.

you must live like a drug kingpin lol

$25K is NOT average Joe. I think that's quite far below average Joe.
$6M in assets should be sufficient to support any average family for a very comfortable lifestyle.

[underscore]

^ that would be sneaky.

I know some stores allow flyer prices to be used (on request of course) for 1 week after the sale ended.

[hotjoint]

average joe earns $25k a year

live to 75, say ...work fo 60 years = $1.5M

then minus living expenses etc.

how can you say you cant live on 6M????

you cant even earn 6 M in 240 years nevermind living expenses.

you must live like a drug kingpin lol

:werd:

[underscore]

I'd say $25k is just a bit below average joe. maybe 30-35k being average.


edit: a quick google showed that average Joe in NZ makes about 45-50k/year, average Jane makes 38-40k

[InvisibleSoul]

^ that would be sneaky.

I know some stores allow flyer prices to be used (on request of course) for 1 week after the sale ended.
Which stores would these be?

[underscore]

don't quote me, but possibly The Brick, Visions, FS. I can't remember exactly but it was a bigger box store. It's worth a shot at any store though.

[Manic!]

edit: a quick google showed that average Joe in NZ makes about 45-50k/year, average Jane makes 38-40k

I bet that's before taxes.

[InvisibleSoul]

don't quote me, but possibly The Brick, Visions, FS. I can't remember exactly but it was a bigger box store. It's worth a shot at any store though.
Don't know about The Brick or Visions, but I'm quite sure that FutureShop will NOT give you a sale price from their past flyer. I don't remember the exact situation, but I was told this by the cashier once.

[Manic!]

Don't know about The Brick or Visions, but I'm quite sure that FutureShop will NOT give you a sale price from their past flyer. I don't remember the exact situation, but I was told this by the cashier once.

Went to FS to buy a memory card and 3 times it was out of stock. The day after the sale it was magically in stock but they would not sell it to at the sale price.

[underscore]

I bet that's before taxes.

most likely, but if they can avoid getting caught they aren't gonna be paying taxes on whatever portion of that 6mil they got.

[zulutango]

Rotorua is hardly a "northern" city...Auckland or Whangarei are...Rotorua is near to lake Taupo in the middle of the North Island...but I can understand wanting to get away from the boiling mud pools, geysers and stink of sulfer gas. Whakarewarewa and Tikiteri ( "Hell's Gate") are just outside of the town. Running a "petrol" station in Rotorua could be construed as grounds for an insanity plea?

[Chairman Kaga]

Its bullshit how a bank can make a mistake that ends up costing US money and they'll make you jump through a million different loops before they give you back the money.

The second they make a mistake then they're automatically covered.

Fuck them.

[penner2k]

The whole Swiss bank account thing doesn't really work all that well anymore.

[underscore]

^ use the Lichtenstein-ians then

[Nightwalker]

wtf is wrong with you guys? go live in Thailand and you're loaded for life. or invest it for better returns.

the best plan though, would be to withdraw as much as possible, stash it, and then call in identity theft. you'd have to pull off a lot very quickly and cleanly to make that buyable, but as long as the money is hidden well, they have no evidence to prove you took and kept the money.

Well, no evidence other than all the security cameras recording you withdrawing the money.

[nipples]

You need to recheck your math.

sorry i meant month lol

[nipples]

you are right man.

an advertisement is only an invitation to treat. there is no consideration given.

stores do not have to legally sell it for you if there is an incorrect label. the store can just say, sorry, wrong label. my lawyer friend who makes $300 K just told me this.

When you think about it, it makes total sense, if an employee of the motorcycle dealership as $240 instead of $2400. the dealership is not legally forced to sell it to the customer for $240.

ive had this happen to me at a couple stores where there was a price error and i knew it was too good to be true and someone just messed up.

True, but there's a whole lot more to it if the would be purchaser takes the additional steps.

At the point of you seeing the flyer or price in the store, there exists no contract binding them to sell it to you. but if you saw it on their online store and placed an order, one could argue that there exists a valid contractual obligation on the shop's part.
Also, whether the price can be argued as a genuine mistake depends on the price. yes, a motorcycle of 2k on 'sale' for say $20 or 200 is an obvious mistake. However, that depends on the circumstance. If the store is having a blow out sale and there are advertised signs showing upwards of 90% off, one could argue just how 'obvious' this is.

One could also argue that this was merely a bait n switch type of deceptive practice - used to attract potential cusstomers under the illusion getting a deal on a particular item when no such price and or item exists - and the merchant could see themselves in deep water because of this.

It's not as cut n dry as 'oh sorry it's a mistake, bye' if the store gets a customer like they many on RFD

[InvisibleSoul]

but if you saw it on their online store and placed an order, one could argue that there exists a valid contractual obligation on the shop's part.
Good luck winning that fight. It's happened, many, many times.

http://news.zdnet.co.uk/internet/0,1000000097,39226977,00.htm

Customers were notified via email that the company could not complete the delivery because the price of the television was originally incorrectly displayed. Amazon.com's Customer Service Department apologized for the inconvenience and cited Amazon's pricing policy, which is posted on the company's help section.

"At any given time, despite our best efforts, a small number of the millions of items on our site may be mispriced," Amazon says in its written policy. "We do, however, verify prices as part of our shipping procedures. If we discover that an item's correct price is higher than our stated price, we will, at our discretion, either contact you for instructions before shipping or cancel your order and notify you of such cancellation."

[dspot]

^ LOL
6M at say 5% interest is only 25k a year LOL

Our education system at work...

[secstasy]

finding that much money in your bank acc = dream come true .

[nipples]

excuse me, what was that again?

[nipples]

sorry i meant month lol

Our education system at work...

thanks

[underscore]

Well, no evidence other than all the security cameras recording you withdrawing the money.

low hat, high collar. like I said you'd have very little time to execute it really smoothly.

[Manic!]

Well, no evidence other than all the security cameras recording you withdrawing the money.

What about the swiping of a bank card entering the pin and signing for the money?

For the people who would take the money and run how would you get the money out of the country?

[underscore]

^ cards get replicated and pins get stolen all the time. jesus have you guys never heard of identity theft? people get cleaned out of hundreds of thousands and the person responsible gets away with it a lot. there is also online banking...

[unit]

how can you say 'ONLY' 25k a month?
i dream about making that kind of money.
and 5% is a very conservative return

[wahyinghung]

Police hunting for a New Zealand couple who allegedly fled the country after a bank mistakenly paid them $NZ10 million ($6 million) believe they traveled to Hong Kong. New Zealand authorities have sought help from Interpol in locating the couple who disappeared May 7, two days after an employee error at Westpac bank paid them 1,000 times the amount they asked for.

TVNZ, a CNN television affiliate, named the couple as Leo Gao and his girlfriend Cara Young. Gao owned a gas station in Rotorua, a lakeside tourist town famous for its hot water springs and bubbling mud pools.

Police said Friday that the couple were believed to have traveled to Hong Kong.

"Enquiries to locate those individuals are continuing through Interpol in Hong Kong and official channels in Beijing," said Detective Senior Sergeant David Harvey.
Police were not confirming the identities of those involved but they were working with the family of one of the individuals named in the media, Harvey said.

The family were shocked at their name being associated with the case, he added.

TVNZ said the couple applied for an overdraft from Westpac worth up to NZ$10,000.

However, on or about May 5, the bank erroneously put NZ$10 million ($6.1 million) into their bank account. What would you do in this situation?

The next day, the gas station closed its doors. And the day after, the couple went missing.
TVNZ said Westpac had confirmed that a customer had attempted to unlawfully transfer amounts totaling around NZ$6.7 million ($4.1 million).

Nearly NZ$3 million ($1.85 million) had been recovered and the bank was continuing to vigorously pursue the outstanding amount, Westpac Media relations manager Craig Dowling told the station.
http://edition.cnn.com/2009/WORLD/asiapcf/05/22/new.zealand.millionaires.hunt/index.html?iref=mpstoryview

[Psykopathik]

$25K is NOT average Joe. I think that's quite far below average Joe.
$6M in assets should be sufficient to support any average family for a very comfortable lifestyle.

its about poverty level according to the Govt. i just picked a number for some rough math. yeah i like it rough ;)