Bank Error In New Zealand
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Kara Hurring
Advertise Couple withdraws money, flees after bank error New Zealand institution mistakenly deposited $6.1 million into account Below: x Jump to text
Leo Gao And Kara Hurring
Police are looking for a New Zealand couple who disappeared after a bank mistaken... text x Jump to discuss comments below discuss x Next story in Weird news related Advertise Video: Couple takes mistaken millions and runs Open
Bank Accidentally Deposits Money
in new window updated 5/21/2009 4:55:45 AM ET 2009-05-21T08:55:45 Print Font: + - WELLINGTON, New Zealand-- Police are looking for a New Zealand couple who disappeared after a bank mistakenly put 10 million New Zealand dollars ($6.1 million) into their account. The couple, who ran a gas station in the northern city of Rotorua, applied to Westpac Bank for a NZ$10,000 ($6,000) overdraft and had 1000 times that amount paid into their account. The two bank accidentally deposited 4 million then withdrew some of the money and disappeared, Detective Senior Sgt. David Harvey said. Harvey said Interpol has been contacted for help, suggesting authorities believe they may have fled abroad with the cash. "We are currently conducting an investigation into the individuals that may have been involved in the withdrawal of that money," Harvey said. ‘Vigorous’ legal action pursued Westpac Bank said in a statement it was "pursing vigorous criminal and civil action to recover the sum of money stolen," but declined further comment. Massey University banking lecturer Claire Matthews said the "lucky" recipients likely would not get away with the cash. "They've effectively, I guess, become thieves — but it is only going to be a matter of time" before they are found, she told the NewstalkZB radio network. The pair would be hard pressed to argue they honestly believed they were entitled to such a huge sum of money, she added. More on New Zealand Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Advertise Advertise Advertise Discuss: Discussion comments " " Expand Collapse , Reply Advertise Advertise Advertise View all comments Leave your comment You Most active discussions votes comments votes comments votes comments votes comments Show discussion Related: Weird news Advertise More weird news Groundhog's forecast comes in bitter winter
Make It Digital Taster Nature Local Menu Search the BBC Search the BBC Search the BBC BBC News News navigation Sections Home bank accidentally deposits a ton of money Video World selected US & Canada UK Business Tech Science Magazine if the bank makes a mistake can i keep the money Entertainment & Arts Health In Pictures Also in the News Special Reports World News TV Explainers The accidental millionaire Reporters Have Your Say Asia selected China India Asia Asia New Zealand 'accidental millionaire' jailed 24 August 2012 From the section Asia Share Share this with Email Share http://www.nbcnews.com/id/30860773/ns/world_news-weird_news/t/couple-withdraws-money-flees-after-bank-error/ this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp Linkedin Share this with Linkedin Copy this link http://www.bbc.com/news/world-asia-19364838 Read more about sharing. Close share panel × Image caption The bank had mistakenly http://www.bbc.com/news/world-asia-19364838 deposited millions of dollars into Mr Gao's account A New Zealand man who fled to China after millions of dollars were accidentally put in his bank account has been jailed for four years and seven months.Hui "Leo" Gao left for China in 2009 after Westpac Bank mistakenly gave him a NZ$10m ($7.5m; £4.65m) overdraft.His former girlfriend, Kara Hurring, received nine months' home detention.The pair, dubbed the "accidental millionaires", were sentenced at a court in Rotorua.The trial ended a saga that has grabbed international attention. They were caught last year after being on the run for more than two years.Gao, 31, pleaded guilty to seven charges of theft totalling NZ$6.7m in June. He was arrested and extradited from Hong Kong in December. He said in court that he would not be able to pay back the money, New Zealand media reported.Hurring, 33, was found guilty of money laundering, attempted fraud and theft in May. She was arrested after returning to New Zealand in February 2011 and c
notesQuick guidesBank accountsCardsLendingOtherPayment systemsSavings and investmentOn Balance newsletters (formerly Current Account)Annual reportsBank information surveys20 year tribute Mistaken payments 04 Dec 2014 With so many payments made every day in the New Zealand banking system, it is easy to make mistakes. https://bankomb.org.nz/news-and-publications/quick-guides/item/mistaken-payments You can make mistakes when making payments in a number of ways. For example, http://www.stuff.co.nz/business/money/6922780/Not-guilty-plea-in-10m-bank-error-trial you could fill in the wrong account number on a manual deposit slip, or when using internet banking. When this happens, your money can end up in someone else’s account. You need to take real care when giving, writing or entering account numbers. Transactions are processed by account number, so this is the crucial piece of information to get bank accidentally right. Although banks will often ask for an account name as well as an account number, their systems do not check they match. What can I do if I’ve made a payment to the wrong account? If you’ve made a payment in error, you should contact your bank as soon as possible. The sooner you contact your bank, the better chance your money can be recovered. If the payment has been made to bank accidentally deposits an invalid account, it will usually “bounce” back into your account. It can be more difficult to retrieve a mistaken payment if it has gone into a valid account. As a general rule, banks can only reverse payments that customers have made in error with the consent of the account holder who received your payment. If you report a mistaken payment, your bank and the recipient’s bank must co-operate with you to try and recover the payment. This usually involves the recipient’s bank contacting the account holder to ask their permission to reverse the transaction. If the recipient of your payment refuses to return the money, you will need to resolve the issue directly with them. This might involve taking the matter to court, although there may be privacy issues in getting the recipient’s contact details. If you are faced with this situation and your bank has done all it can to assist you, we recommend you seek legal advice. What are my rights if I have received a payment that I wasn’t meant to? If you receive a payment into your account that you were not expecting, you should contact your bank as soon as possible to let them know. If your bank contacts you asking for your consent to reverse a payment you have received in er
plea in $10m bank error trial MIKE WATSON Last updated 14:00 15/05/2012 Tracey Robinson/ Fairfax NZ Kara Hurring (L) and her Lawyer Simon Lance entering Rotorua court. Relevant offers Money Richlister buys neighbouring Herne Bay properties for 'extravagant' super mansion Student loan borrowers seeking bankruptcy as millions in debts wiped due to insolvency One in 10 New Zealand families fell into 'Struggle Street' since 2006 Sellers wait for a premium while buyers take their time: Realestate.co.nz NZ real estate listings get Chinese translation on sites like Hougarden.com Kiwis 'drowning in housing debt', Labour says after Statistics NZ figures Peer-to-peer marketplace Harmoney makes it easier for ordinary folk to turn lender Saving for a solid retirement isn't as hard as many KiwiSavers think House to sell at online auction with $1 reserve Beware 'heat not burn' tobacco devices, e-cigarette seller warns Ministry of Health A Rotorua woman used her partner's ATM card to buy goods and withdraw cash knowing $10 million had been deposited into his Westpac overdraft account by a bank mistake, a Rotorua jury heard today. Kara Hurring, the ex partner of Leo Gao, left Rotorua for Auckland soon after the couple allegedly discovered the banking error in Gao's account in late April 2009. About $6 million was transferred to accounts in China, Westpac Bank recovered $2.9 million, and $3.3million is still outstanding, the court heard. Hurring was living with Gao in their Rotorua townhouse when Gao shouted one night "I'm f**king rich", Crown prosecutor Fletcher Pilditch said in his opening address today. Earlier he had arranged a $10,000 bank overdraft for his ailing service station business but through a clerical error was given $10 million. Within three days the couple left Rotorua "never to return". Gao was dropped off at Auckland International Airport by Hurring to fly to Hong Kong while Hurring stayed in Auckland using Gao's bank card to make withdrawals. She regularly exceeded the daily limit until she also left for Hong Kong on May 3, the Crown alleges. Gao transferred $500,000 from his Westpac business account to his personal ASB account, later sending $450,000 offshore to Wynn's Casino in Macau. He left $50,000 in the personal account which Hurring had access to, the Crown said. Hurring has pleaded not guilty to 30 counts of theft, dishonestly using a bank card and money laundering. When Hurring arrived in Hong Kong with her daughter, she took a ferry to Macau and opened a "front money account" at the casino for HK$1.5 million (NZ$341,000) in gambling chips, accommodation and food wit