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T&T: Man charged for spending money placed in his account in error

March 17, 2023

CMC – Police have charged a 31-year-old scaffolder with larceny after he allegedly withdrew nearly one million dollars (One TT dollar=US$0.16 cents) that had been credited to his personal account held at an un-named financial institution.

In a statement, police said that that a system error had resulted in TT$32,347,308.55 being credited in the personal account of the man.

The police said that during the period November 18th, 2022 and December 1st, 2022, “the owner of the personal account withdrew sums totalling TT$825,000 in cash from various Automated Banking Machines and conducted Point of Sale purchases totalling TT$131,357.70, together totalling $956,857.70. “

They said efforts by the financial institution to get a full refund of the money proved futile and a report was made to the Fraud Squad.

The police said following investigations into the matter, the Fraud Squad conducted an exercise which resulted in the arrest of a male suspect.

It said a total of TT$600,501 in cash was allegedly recovered at his home.

The man, who was charged on Thursday, is due to appear in court soon.

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