Luke Brett Moore withdrew $2.1 million over 50 transactions thanks to a system error. He spent the free money on exotic cars, a power boat, paintings, jewelry and a framed Michael Jordan jersey.
Last year, Mr. Moore was jailed, and convicted of fraud for deceiving his bank, according to the Sydney Morning Herald.
“Not guilty :)” Mr Moore wrote in caps lock on Facebook.
At the age of 22, the Goulburn Australia man signed up for a bank account at St George Bank.
His first depost of $441 came from Centrelink. The account, which let him withdraw cash even though there was no money it, let him to into the negative of $2 million by August 2012.
Police raided Mr. Moore’s home in December 2012, where they found photographs from Bob Dylan, Usher, Guns N’ Roses and Led Zeppelin. Police also found keys to an Aston Martin DB7 Vantage coupe. Mr. Moore also purchased a 2001 Maserati sedan and a Stessl aluminum 560 Sea Hawk power boat. Police found more than $1.1 million sitting in separate bank accounts. A jury of 12 convicted him of fraud and dealing with proceeds of crime. Ms. Moore was ordered to pay all the money back.
“To be quite clear about it, the notion sourced in board games of a windfall ‘bank error in your favour’ is a very poor guide to the position at law,” Justice Mark Leeming noted in an appeal judgement supported by Justices Natalie Adams and Desmond Fagan.
Justice Leeming said Mr Moore acted “extremely foolishly” since he knew of the error and exploited it.
However, Mr. Moore did nothing to force the bank to continue allowing him to debit money.
“The unusual aspect of Mr Moore’s conduct was that there was nothing covert about it,” Justice Leeming said. St George’s bank statements showed “with complete accuracy Mr Moore’s growing indebtedness.” The verdict was overturned after Mr. Moore received a jaim term of two years and three months by Judge Stephen Norrish last April.
“I must confess to some puzzlement at the apparent dismay of the prisoner and people who support him that he was found guilty,” Judge Norrish said.
Mr Moore served five months in jail and was granted bail last September. The Supreme Court described the case as “almost unique.”