‘Office Space’ Penny Scheme..In Real Life!!

A man was recently indicted for a money siphoning scheme that bore some striking similarities to the penny clinching scheme in the movie Office Space. Apparently he took advantage of a loophole which occurs when someone links their brokerage account to a bank account for the first time, and managed to collect $50,000 in “micro-deposits” before getting busted, and he didn’t even mess up the decimal places!

Here’s an excerpt from the article:

Michael Largent, 22, of Plumas Lake, California, allegedly exploited a loophole in a common procedure both companies follow when a customer links his brokerage account to a bank account for the first time. To verify that the account number and routing information is correct, the brokerages automatically send small “micro-deposits” of between two cents to one dollar to the account, and ask the customer to verify that they’ve received it.

Largent allegedly used an automated script to open 58,000 online brokerage accounts, linking each of them to a handful of online bank accounts, and accumulating thousands of dollars in micro-deposits.

Read the full article HERE

Related posts:

1. Give Me Space, Lots of Space
2. Bring Life To Your Cubicle
3. Article Watch: Office Weirdos
4. Tips to make your office eco-friendly
5. Score a 3-day weekend