New Zealand Bonnie and Clyde: On the Run After $6 Million Bank Error

May 21, 2009

(ChattahBox)—A couple from New Zealand are on the run with millions of ill gotten loot after a local bank mistakenly deposited over 6 million dollars or $10 million in New Zealand currency, into the couple’s account, which was 1,000 times the amount of money the couple requested.

After noticing the mistake, and seeing all those zeros, the temptation apparently proved to be too great. The couple withdrew some, not all, of the money and fled the country.

The bank, Westpac, is saying it recovered $4 million in New Zealand currency, which is roughly $2.5 Million in US dollars. The bank is not releasing the exact amount the couple fled with, but it’s thought to be over $3 million dollars.

The Bonnie and Clyde-like couple, Leo Gao and his girlfriend Cara Young ran a gas station in the rural area of Rotorua, which is nearly 150 miles south of the City of Auckland. On May 8, customers looking to fill up their cars with gasoline were greeted with a locked door and a sign saying the gas station was in receivership, an equivalent to a “Gone Fishing” sign, perhaps.

Authorities believe the couple fled with the cash to either Korea or China, but at this point, they have no leads.

According to the New Zealand Herald, “human error” was responsible for the bank overdraft and can’t be blamed on a computer glitch. Westpac is currently conducting a thorough review of its banking procedures to prevent future deposit errors.

It’s a crime to spend money deposited by mistake in bank accounts, when it’s obvious the money doesn’t rightly belong to the account holder. Leo and Cara are now two thieves on the run.

An international manhunt is now underway for Leo and Cara, with Interpol assisting local police to locate the couple.

Source


Comments

7 Responses to “New Zealand Bonnie and Clyde: On the Run After $6 Million Bank Error”

  1. marc on May 21st, 2009 1:39 pm

    RUN as fast as you can!!

    ok so lets get this right, the bank not only deposited the money, but when the withdrew it the bank did that for them too!

    and the people are in the wrong??

    come on westpac doube failure !!!!!
    first for depositing the money, and second for then allowing them to withdraw it !

    I hope they have the times of there lives and enjoy because lets face it, it was the banks error on two parts, so they get eh bonus, if you put millions in an account of someone wanting to borrow money them what do you expect them to do??

    human nature

    Enjoy

  2. Old Man Dotes on May 21st, 2009 2:39 pm

    Funny how, if the bank President of, say, Citigroup had taken a huge bonus that came out of US taxes that had been given to the bank to prevent the bank’s closure, that would be legal (ignoring the morals and ethics of it all, as politics usually does), but when a middle-class couple decides to take advantage of the bank making an error so huge that it’s mind-boggling, they’re criminals.

    There’s going to be a lot of poor folks cheering for Leo and Cara.

  3. After Finals, I Can Live Again. « The Result of Perpetual Motion on May 21st, 2009 8:27 pm

    […] Finals, I Can Live Again. Jump to Comments Read about the couple who are on the run after a bank mistakenly deposited over 6 million dollars in…┬áRun Leo and Cara! […]

  4. Dco on May 22nd, 2009 2:51 am

    Couple with dollars from new zealand,Run…run…is my advice.oportunity comes but once.why dont u guys come to Africa?it is a safe haven for u guys.

  5. Dco on May 22nd, 2009 2:54 am

    Run,run,run!opportunity comes but once.y dont u come to Africa?it is the best safe havens on earth.goodluck guys!

  6. i hate ignorant people on May 22nd, 2009 8:52 pm

    Gao is a Chinese surname. The guy is obviously Chinese, not Korean.

  7. nzriskmanager.com » Blog Archive » What’s operational risk on November 9th, 2009 12:03 am

    […] Theres no greater example of a failure of operational risk than the recent Westpac error […]

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