DETROIT – A retired General Motors worker was sentenced to 15 months in prison and ordered to repay $1.5 million he gambled away at three local casinos after a Bank of America computer glitch allowed him to withdraw the money from several ATMs.
Fifty-six-year-old Ronald Page must repay the funds through his $2,000-a-month GM pension.
Page visited an ATM at one of the local casinos in August 2009 and found that, despite only having a few hundred dollars in his account, he was able to take out as much money as he wanted. Page discovered the same thing happened at other ATMs and at casino windows and went on a 15 day-long spree, taking out $312,000 at Greektown Casino, $103,000 at MGM Grand Casino and $514,000 at Motor City Casino, according to court records.
His lawyer said Page, who is in poor health, gambled for a 24- to 36-hour stretch without any sleep. After getting some rest, he returned to the table and continued to gamble.
Despite some winnings, he eventually lost all of the $1.5 million.
The gambling spree cost Page his marriage, his home and now, his freedom
Prosecutors say BofA, which inherited Page’s account after it acquired LaSalle Bank, mistakenly tabbed his account as “pay all,” allowing Page to make unlimited cash withdrawals and make unlimited overdrafts.
On August 21, 2009, BofA notified Page that his account was overdrawn by $1.5 million and demanded immediate payment.