Guy paid back stolen money with Casino winnings. Could he STILL get into legal trouble? :/

[Tasha]

A guy took the "Chase Check fraud challenge," trend, writing a bad check for $200 and collecting the $200 before Chase fixed the loophole. The loophole was Chase had a check glitch where they were allowing Customers to withdraw the ENTIRE money from deposited checks without first verifying that the check was legitimate. So, many people were writing bad checks for saying $200 and immediately withdrawing the $200.

A guy said he took the Chase Check fraud challenge and wrote himself a bad check for $200, withdrew the $200, and took the $200 to a Casino and won $400, doubling his money. The VERY next day, Chase fixed the glitch and announced it would be pressing charges against Customers who did the Chase Check fraud challenge." The guy said ,"I put back the $200 I fraudulently withdrew using the Chase check fraud challenge when I learned that the glitch is fixed and Chase is going to press charges. Could I still get into legal trouble for doing the Chase check fraud challenge even though I put back the $200?

I personally don't know if he would still get into legal trouble given the fact that he put back the money he stole. What do you guys think? Would he still get charges pressed against him even after he put back the stolen money? Even a News Anchor questioned something like,"If the Customer admits that stealing the money fraudulently using the Chase check fraud challenge was stupid and pays back the stolen money, will they still get charges pressed against them for stealing the money fraudulently in the first place?"

[MisterV]

LOL

This "guy" wouldn't happen to be YOU, would it?

Returning the money you withdrew is the best first step in mitigating the consequences of your actions.

[Tasha]

LOL

This "guy" wouldn't happen to be YOU, would it?

Returning the money you withdrew is the best first step in mitigating the consequences of your actions.

It wasn't me, I promise to God! It really was a guy who said he did that!

[DGenBen]

Here was his mistake,

Instead of scamming the bank for 200 dollars, he should have deposited a fake check for 100 Billion dollars & then he could hire the best lawyers to get him out of any legal jam.

But actually no, for $200 if he pays it back he won’t have legal trouble.

It was not actually a glitch or loophole, its the way banks work. Many banks will give you access to deposited funds via check immediately before the check goes through.

People who abuse that privilege not only risk legal consequences, but they can lose their ability to qualify to have checking accounts & have to use check cashing stores instead of banks.

[Tasha]

Here was his mistake,

Instead of scamming the bank for 200 dollars, he should have deposited a fake check for 100 Billion dollars & then he could hire the best lawyers to get him out of any legal jam.

But actually no, for $200 if he pays it back he won’t have legal trouble.

It was not actually a glitch or loophole, its the way banks work. Many banks will give you access to deposited funds via check immediately before the check goes through.

People who abuse that privilege not only risk legal consequences, but they can lose their ability to qualify to have checking accounts & have to use check cashing stores instead of banks.

My Bank also immediately gave me full access to a check I deposited, but my Bank is a local Florida bank, not a National one like Chase Bank is.

[MDawg]

You should just refrain from trying to repeat anything you read or heard because every one of your "a guy did this" or "a guy said this" or "a guy heard this" stories is inaccurate.

Chase isn't pressing charges against anyone in this situation, certainly not for $200. All they did, apparently, is sue people over taking advantage of this glitch.

https://www.cnet.com/personal-financ...ok-money-hack/

Additionally, I doubt the sum of the checks in question were $200. Unless the customer has a shit reputation with the bank, or the account is brand new, these days banks will issue full credit for checks deposited up to $275. in one business day anyway.

https://www.chase.com/personal/banki...check-to-clear

When I deposit six figure checks including cashier's checks into my accounts, the full amount is posted the very next day, but when the accounts were new, a hold of up to 7 business days but usually just 2 business days was placed. When the checks were cashier's checks and a hold had been placed, the bank would release the hold the very next day after deposit automatically with a notation like HOLD REL MEMO once they viewed the image and realized it was a cashier's check.


What's more interesting is what happens when up to seven figure casino checks for my winning are deposited into an account. These are obviously not cashier's checks. What I have found, is that when a hold is placed if I want the funds sooner for most of the casino checks I am able to phone my bank and reach the hold release department and get the hold released, but for at least one of the majors in town they bank with a certain bank that will not discuss deposited checks with the requesting financial institution, such that with no verification of having been paid, the receiving bank is unable to release any hold for a non-cashier's check.

Over all, times have changed since the days of Frank Abganale, Jr. (who is a lying fraud anyway

https://nypost.com/2023/03/13/catch-...bout-his-lies/

- never cashed anywhere near millions in bad checks), and check kiting won't really work these days due to the speed with which a check clears or is returned.


One "glitch" that was well known and I recall some of my friends used to exploit as teenagers, back when ATM machines still needed envelopes, is deposit an empty envelope or one containing just a blank piece of paper into the machine, declare that the deposit was for a hundred or two hundred, and then withdraw the cash immediately. Of course once this was done too many times, the banks would put some kind of notation on the account and not allow this nonsense further. I always thought it was stupid for anyone to do this because it was inevitable that the bank would find out what happened, but teenagers desperate for money will do stupid things sometimes. All this demonstrates, is that people think that children of the wealthy have unlimited cash, but it isn't necessarily so, that any of my friends would do something like what I saw them do, is representative of this fact. Spoiled maybe. Rolling in cash, no.