Bank mistake brings temporary fortune to URI student (RI) : LUSENET : TimeBomb 2000 (Y2000) : One Thread

Bank mistake brings temporary fortune to URI student

By Associated Press, 2/2/2000 09:02

SOUTH KINGSTOWN, R.I. (AP) A University of Rhode Island student nearly became a millionaire until his bank caught the mistake.

BankBoston dumped $960,000 into Timothy Satgunam's account and charged him $6 for the transfer.

At first, he thought his bank statement said $960 but then he realized he was almost a millionaire.

''I called my mom and told her I was going to the airport and I would call her later from the islands,'' joked Satgunam.

His mother told him to report the mistake. Satgunam called a customer representative and was told that a tracer would be put on the transfer.

After three weeks while Satgunam dreamed of leaving school and starting a business the problem was fixed.

FleetBoston mistakenly transferred a loan payment Satgunam's account which has the same last eight digits of another customer.

''Now I have to go back to school,'' he said. ''Rats.''

-- Homer Beanfang (, February 02, 2000


Was that his final answer?

-- Dee (, February 02, 2000.

I would have been gone so quick, there would have been nothing but a cloud of dust!

-- Richard (, February 02, 2000.

Yeah, I'll bet if the bank had to cover that mistake it would have put a big dent in their profits for the year (not).I know this makes me an awful person, but if that was me the money would be in Geneva right now. And so would I.

-- Gia (, February 02, 2000.

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