Citibank can't get back $500 million it wired by mistake, judge rules

[Epic]

After committing one of the "biggest blunders in banking history," Citibank won't be allowed to recover the almost half a billion dollars it accidentally wired to Revlon's lenders, a US District Court judge ruled.

Citibank, which was acting as Revlon's loan agent, meant to send about $8 million in interest payments to the cosmetic company's lenders. Instead, Citibank accidentally wired almost 100 times that amount, including $175 million to a hedge fund. In all, Citi (C)accidentally sent $900 million to Revlon's lenders.

[uzaaR]

Lenders should return back the money to Citi!

[Killer66]

1 minute ago, uzaaR said:

Lenders should return back the money to Citi!

ChAl pakkaki poantunaru 

[Anta Assamey]

Idi ekkadi dikkumalina judgement ....

[uzaaR]

Just now, Anta Assamey said:

Idi ekkadi dikkumalina judgement ....

Vadiki 50 50 deal emo 😃

[uzaaR]

Once again!

 

[no01]

Just now, Anta Assamey said:

Idi ekkadi dikkumalina judgement ....

ade kada....agreed its accident, but thats not Revlon lender's money..if its not yours, you should give back.

may be koncham fine laaga veyyochu anthe kani idem worst judgement 

[argadorn]

it happens only here 

[sunnam]

13 minutes ago, Anta Assamey said:

Idi ekkadi dikkumalina judgement ....

law says that even if it is accidental but you are owed money then you can keep it. idi emaina MODI fasict rule/jagan factionism rule anukunnava bediristhe bediripodaniki..........vattalu kostharu ikkada US lo. law is law..democracy ante ide. 😁

[r2d2]

lenders already vaaduku dobbuntaaru.. tooch.. ippdudu give back antey..how?

[Anta Assamey]

3 minutes ago, sunnam said:

law says that even if it is accidental but you are owed money then you can keep it. idi emaina MODI fasict rule/jagan factionism rule anukunnava bediristhe bediripodaniki..........vattalu kostharu ikkada US lo. law is law..democracy ante ide. 😁

Bank vadu manaki porapatuna transfer cheste manam unchukovaha ....

[kdapparao]

4 minutes ago, sunnam said:

law says that even if it is accidental but you are owed money then you can keep it. idi emaina MODI fasict rule/jagan factionism rule anukunnava bediristhe bediripodaniki..........vattalu kostharu ikkada US lo. law is law..democracy ante ide. 😁

Nippu CBN rule anukunaremo bro.

[Spartan]

rest of the US lo...if u use up accidentally transferred money..it is punishable offense..

kaani this is typical case which happened in New York limits..

and according to lae in New York...accidental money vadukovachu..

If the beneficiary is entitled to the money and did not know it was accidentally wired, they can keep it. Revlon lenders said they believed Citibank was wiring prepayments for a loan. After all, the money accidentally wired was the exact amount "to the penny" Citibank owed them, although the loan wasn't set to mature for quite some time.

 

exact amount varaku match aindi which they were expecting..so advance payments chesaremo ani vaduku dobbaru

@Anta Assamey

[Anta Assamey]

Just now, Spartan said:

rest of the US lo...if u use up accidentally transferred money..it is punishable offense..

kaani this is typical case which happened in New York limits..

and according to lae in New York...accidental money vadukovachu..

If the beneficiary is entitled to the money and did not know it was accidentally wired, they can keep it. Revlon lenders said they believed Citibank was wiring prepayments for a loan. After all, the money accidentally wired was the exact amount "to the penny" Citibank owed them, although the loan wasn't set to mature for quite some time.

 

exact amount varaku match aindi which they were expecting..so advance payments chesaremo ani vaduku dobbaru

@Anta Assamey

Oh ippudu clarity vachindi ...

[Picheshwar]

2 minutes ago, Spartan said:

rest of the US lo...if u use up accidentally transferred money..it is punishable offense..

kaani this is typical case which happened in New York limits..

and according to lae in New York...accidental money vadukovachu..

If the beneficiary is entitled to the money and did not know it was accidentally wired, they can keep it. Revlon lenders said they believed Citibank was wiring prepayments for a loan. After all, the money accidentally wired was the exact amount "to the penny" Citibank owed them, although the loan wasn't set to mature for quite some time.

 

exact amount varaku match aindi which they were expecting..so advance payments chesaremo ani vaduku dobbaru

@Anta Assamey

Night endhi racha?