When windfall goes bad? Never accept or take something that doesn't belong to you. Thou shall not steal. Have you ever accepted something that doesn't belong to you. For instance you know you have a certain amount in your bank account. But the next day you go to your local bank to make a withdrawal only to find out that you have about three or maybe even more zeros behind the current amount that you had before.

Suze Orman is the first person I heard used the term "Windfall". Windfall means an unexpected, unearned, or sudden gain or advantage. Windfall can be a blessing,God sent,an increase in your financial portfolio,bonus,an inheritance,selling a short sale after it has been on the market for two years (Okay I made that one up-SORRY. PG County MD Short sales is a very tough transaction that once you finally settle,it feels like you just lifted a ton of load lifted off of your shoulders. But what do you do when you are given something that doesn't belong to you? Common sense would tell you to rightfully give it back to the owner right? That's not what this person did.

Meet Stephen Reginald McDow. Stephen Reginald McDow is 34 years old. The bank mistakenly deposited $110,000 into his account. So instead of Mr.McDow telling the bank that someone deposited $110,000 into my account. Mr.McDow decides that he is going to keep the money and take care of some things. What did he did you ask? Prosecutors said he used about $60,000 to pay student and car loans and to save a house he owns from foreclosure.

Some news accounts said McDow offered to make some monthly payments but the woman wasn't satisfied with his plan and filed a police report. You mean to tell me he wanted to make a monthly plan for $110,000. How much will he pay a month? How long will it take him to pay off $110,000. Heck by the time he pays it off (If he will ever will) my kids would have probably gotten from Law school by then whenever time that is since I don't have any kids yet.  And Speaking of law school,I hope he finds a very good lawyer because he is sure going to need one.

McDow now faces a felony charge of theft of lost property and up to four years in prison if convicted. What can we learn from this? I am sure there are many things we can learn from this. But one thing we all can learn from this is if somebody gives you something that you know doesn't belong to you,give it back to the owner-PLEASE. Life is too short to spend your precious life in jail. For more on this story, Man inherited a sum of $110,000 that didn't belong to him

 

                                          HGTV FRONT DOOR WASHINGTON DC REAL ESTATE AGENT

 

 
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7 Comments on When windfall goes bad? Never accept or take something that doesn't belong to you. Thou shall not steal.

JUN
26
2011
1,179,776 Points 3 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp

It's simply amazing to me that this man would actually spend money that 'just showed up'. He knew it wasn't his...

7:55pm • #1

Wow, Lanre. Obviously he is to blame for spending the money that he knew wasn't rightfully his, but the bank should be held liable for their "deposit error" to the account holder it really belongs to.

7:59pm • #2
438,013 Points 79 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Lanre, that is totally amazing. It makes you wonder how some people can sleep at night! What a report...great post!

Deb

10:21pm • #3
JUN
27
2011
103,611 Points 8 Featured Posts

Well, I wouldn't spend it . . .that's for sure, BUT I might just leave it in my bank account until the bank realized their error.  I would just check my statement online every morning and smile until they took it away! :)

12:21am • #4
JUN
28
2011
1,262,058 Points 2 Featured Posts Outside Blog Hit Router

Lanre

Isn't that the truth. We always need to do the right thing and be able to have a clear conscience.

1:03am • #5
JUN
29
2011
308,212 Points 2 Featured Posts Localism Sponsor Called Shot Master

Hi, Lanre. Wow, what a story. A good lawyer will probably argue that it wasn't stealing since the money forced its way into McDow's bank account. lol

1:08am • #6
1,142,806 Points 242 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Hi Lanre!  Oh my GOSH!  How do you not freak out and RUN like heck to the bank to tell them to get that out of there before you're tempted to spend someone else's money?!!  I can't believe that he had the courage to even TRY to get away with that!  Jail is not a place I ever want to see inside so, I don't think my car goes fast enough to get me to the bank to make certain that they get this OUT of my account!  (Plus, what's my lender going to say when I apply for a mortgage?!!  And, what's my CPA going to say when he's working on my taxes next year?!  LOL)

5:10pm • #7


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Lanre "The Real Estate Farmer"Folayan. Buy a home in Washington DC.

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