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The bank lent me $2m so I spent it on strippers and cars

bbc.com

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Re: The bank lent me $2m so I spent it on strippers and cars

#51

Post by adekok »

The article doesn't way why he was found not guilty, but I'll make my guess.

He did nothing to defraud the bank or mislead it. He simply had access to a large line of credit, and used it. If the bank wants it's money back, that's a civil matter, not a criminal one. It's their responsibility to ask for it back.

This reeks of incompetence on the part of the bank, followed by outright malice. They put an innocent guy in jail in order to pretend that it was his fault that they screwed up.

Re: The bank lent me $2m so I spent it on strippers and cars

#53

Post by wheelerwj »

adekok wrote: post #51

The article doesn't way why he was found not guilty, but I'll make my guess. He did nothing to defraud the bank or mislead it. He simply had access to a large line of credit, and used it. If the bank wants it's money back, that's a civil matter, not a criminal one. It's their responsibility to ask for it back. This reeks of incompetence on the part of the bank, followed by outright malice. They put an innocent guy in…

It does say:

I was acquitted a few weeks ago. As far as the law is concerned in Australia at the moment I had no legal obligation to inform the Bank of what was going on. I wouldn't do it again - it wasn't worth a couple of good months with the strippers and some cocaine.

The judge said I was dishonest, but we don't live in a society where moral wrongs result in people being locked up behind bars and their liberty taken away from them.

Re: The bank lent me $2m so I spent it on strippers and cars

#54

Post by 010a »

mathgeek wrote: post #44
coldtea wrote: post #21

Earlier quoted context omitted.

> He bought several expensive cars, spent time in Thailand, and started buying celebrity memorabilia and art? Why not? He had a nice experience, and even avoided any long term jail sentence. What's not to like?

Morally, there are several things not to like. Of course, this is arguably no more or less morally sound than someone who legally games the financial system and buys the same lifestyle. Lots of grey areas, I suppose. I keep wanting to compare it to tech firms that profit off chiseling away at our privacy using social and game theory, but I'm not completely convinced that the two systems are similar enough to warrant…

I'm not sure I feel comfortable talking about morality when banks are involved.

Re: The bank lent me $2m so I spent it on strippers and cars

#55

Post by Grazester »

restalis wrote: post #43
yomly wrote: post #24

Earlier quoted context omitted.

Yep this is my takeaway from the story. I will not be sad when AI automates away the majority of the legal industry. Really really terrifying that one's access to justice is dependent on their access to finances. Luckily this guy was smart enough to actually represent himself - credit to him for that!

"this guy was smart enough to actually represent himself" This was my shock in all this. I've created a personal profile for this guy on story's beginning and ended up with a whole new profile at the end. What a character development!

Now who is buying the movie right?

Re: The bank lent me $2m so I spent it on strippers and cars

#56

Post by tonyedgecombe »

kelvin0 wrote: post #13
pcr0 wrote: post #9

Nice to see the turnaround from strippers and cocaine to attending law school and helping other people out.

Well he simply switched groups he was 'helping': he used to be helping Strippers and Coke dealers (financially), now he's helping others with his newfound law insights and retelling of this story.

Those others might well be strippers and coke dealers.

Re: The bank lent me $2m so I spent it on strippers and cars

#57

Post by cmdrfred »

010a wrote: post #54
mathgeek wrote: post #44

Earlier quoted context omitted.

Morally, there are several things not to like. Of course, this is arguably no more or less morally sound than someone who legally games the financial system and buys the same lifestyle. Lots of grey areas, I suppose. I keep wanting to compare it to tech firms that profit off chiseling away at our privacy using social and game theory, but I'm not completely convinced that the two systems are similar enough to warrant…

I'm not sure I feel comfortable talking about morality when banks are involved.

Turnabout is fair play in my opinion.

Re: The bank lent me $2m so I spent it on strippers and cars

#58

Post by Thimothy »

marrs wrote: post #34
pcr0 wrote: post #9

Nice to see the turnaround from strippers and cocaine to attending law school and helping other people out.

Sounds more like a natural progression to me

I'd say it's more of a regression, or the usual progression inverted.

Re: The bank lent me $2m so I spent it on strippers and cars

#59

Post by dgreensp »

> I was just unlucky I guess that it happened to me.

People like this who have no sense of personal responsibility are an evil in the world. He spends millions of dollars of other people's money, declares bankruptcy (presumably), and when his actions are deemed dishonest and immoral, though not technically illegal, he acts like that's just name-calling and gets right back up on his high horse. Remind you of any Presidents-elect?

I expected better of HN commenters. Remember when we had a spirited discussion about people defaulting on their student loans and blaming society for making them take huge loans they can't pay back? This situation lacks any of the nuance of that one.

Re: The bank lent me $2m so I spent it on strippers and cars

#60

Post by elcct »

TheArcane wrote: post #48
jdavis703 wrote: post #40

Earlier quoted context omitted.

It's actually called fraud, at least in the US, and will be investigated by the Secret Service. If you experience such a windfall in your account, seek written permission from the bank before spending any of the money.

Isn't the Secret Service supposed to protect the president?

Yes, getting suddenly rich and not giving president a cut or at least inviting him for a dinner is a huge insult.

Excuse my poor humour :D

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