The party’s over for the “accidental millionaire” now that he’s plead guilty to seven counts of theft, reports CNN’s Madison Park. Three years ago, Hui “Leo” Gao, a gas station owner, and his girlfriend became a modern day Bonnie and Clyde when they stole nearly $7 million from Westpac bank.
According to Park, it all started when the bank approved overdraft financing for the station and accidentally added about 100 times the original amount of the spending limit, roughly $10 million. According to court documents, Gao didn’t hesitate to transfer the funds to offshore accounts in Hong Kong, China and a casino in Macau, then skipped town with his girlfriend.
As Odysseas Papadimitriou, CEO of CardHub, told Your Money reporter Mandi Woodruff earlier this year, pulling such a move is a one-way ticket to jail.
“Sooner or later someone will wonder where the money went and at that point it will be trivial for the bank to figure out that you were the unintended recipient,” he warned.
However, banking errors have making headlines as of late and some consumers aren’t shy about seeing how far they can get with the stolen funds. Just last month, Joseph Bucci allegedly went on a shopping spree with a $70,000 deposit that accidentally appeared in his Wells Fargo checking account.