Man Accused Of Taking $2M After Bank Confuses Him With Another Man

NEW YORK (AP) — This isn’t a banking error in anyone’s favor.

A man is facing charges for withdrawing $2 million from an account after a bank confused him with a man who has the same name.

Benjamin Lovell was arraigned Tuesday on grand larceny charges. He says he tried to tell officials at Commerce Bank in December that he did not have a $5 million account. But he says the banks – which advertises itself as America’s Most Convenient Bank – told him the account was his and that he could withdraw the money.

Prosecutors say the bank confused Lovell with someone by the same name who works for a property management company.

Prosecutors say Lovell gave away some of the withdrawn money and blew some of it on gifts, but lost much of it on bad investments.