Man is given $1.3 million in free money, and it ends badly:
A debt-ridden student blew $1.3 million on sports cars, speedboats, strippers and cocaine after a bank error gave him an unlimited overdraft.
Wannabe playboy Luke Moore lived the high life for two years before he was caught by cops and jailed on fraud charges.
The Australian treated himself to luxury holidays, an Aston Martin, a Maserati and a boat while living the ultimate bachelor lifestyle.
But he was slapped with a four-year jail term last year after the banking glitch came to light.
Moore, 29, went free last week after winning an appeal of his conviction on the grounds that his actions were not deceptive.
I’ll say. What could be the basis for charging him with fraud? He took what was given to him.
Interesting that this went undetected for two years. That’s what happens when everything is automated and the element of human judgement is removed. Would your local banker allow you to withdraw a million bucks over two years because of a “glitch”?
He is now broke and living with his mother in Goulburn, New South Wales, ironically while studying to become a criminal lawyer.
But he told the Daily Telegraph he did not miss his multimillionaire lifestyle “besides the cocaine, the strippers and fast cars.”
This is the type of thing that makes me think that a universal basic income (UBI), instead of bringing about a great flourishing of the human spirit, would actually lead to the swift collapse of society.