Man who got £1m in cash-point glitch spent it in 4 months on playboy lifestyle
A man has revealed how he used a cash-point glitch to withdraw £1 MILLION before splashing out on private jets, escorts and holidays.
Dan Saunders was stunned when he stumbled on a cash machine which, despite him having no cash in his account, continually dispensed hundreds at a time.
The barman, from Wangaratta, Australia, found the dodgy cash point in February 2011 – and meant he had access to ‘free money’ whenever he needed or wanted it.
Aged 29 at the time, Dan withdrew $1.6 million (around £1million) over a four-and-a-half month period.
He took advantage of a loophole in the ATM system which meant it couldn’t record transactions during late-night maintenance – but still dispensed cash.
Dan would transfer cash from his credit to savings account and while the machine failed to record the transaction – it spat out the exact amount he asked for, reports The West Australian.
Dan, who said he doesn’t regret his actions, soon started living the high life, and was forking out on luxury holidays to private islands and wining and dining in some of the world’s most expensive restaurants.
He also spent his ‘free cash’ on high-class hookers, five star hotels, limousines and private jets.
During one trip to the Blue Mountains outside Sydney, Dan flew in two escorts by helicopter while staying at luxurious Emirates Resort.
His Playboy lifestyle began on a night out when he tried to buy a round of drinks before getting his card declined, reports The Sun.
After going straight to the cash machine to check his balance, he saw just £3 in his account – but decided to try and withdraw £100 anyway.
To his amazement, the machine obliged and after a round of drinks – Dan returned for more.
He said: "I tried to get £250 and then £300 just to see what would happen and it kept giving me the money.
"It was 1am in a country town so there was nowhere open to spend it.
"I think it was a combination of being tipsy and bored, but I just kept doing it again and again, it was like a magic trick."
Dan described how using the cash machine became a "very addictive thing" and said he felt like a "caveman discovering fire".
Within weeks, Dan was fired for gambling at work and his girlfriend left him.
But he was already accustomed to living the high life – and he continued in his party boy lifestyle for months.
He went on to explain his spending as earning a good wage thanks to being an investment banker or working in real estate.
The priciest thing he bought was a flight in 20-seat private jet, chartered for him and his friends to a private island near Bali – costing a staggering £50,000.
In June 2011, Dan handed himself in to police after fearing he had become an international criminal – suffering from anxiety attacks and nightmares about getting caught.
He spent a year behind bars for obtaining money by deception in 2015 and was also fined $250,000.
But despite the prison sentence and hefty fine, Dan said he doesn’t regret withdrawing and spending the cash.
He said: "A lot of it is a blur I guess. That’s the first thing that comes to mind.
"I was just interested in having a good time, drinking some nice wine and meeting some nice people and just enjoying things really.
“I didn’t realise it was going to get up to the millions of dollars. I thought it was going to end after one week, not four and a half months."
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