Sunday, July 18, 1999

Bank goof sends man on spree - temporarily

5/3 calls in FBI to recover money

The Cincinnati Enquirer

        An Over-the-Rhine resident who found an unexpected $183,516.11 in his Fifth Third Bank account used some of the windfall to pay for his own funeral, a federal prosecutor says.

        “I don't know why,” said Assistant U.S. Attorney John DiPuccio. “He looks pretty healthy to me.”

        Other purchases included a van, he added.

        Mr. DiPuccio said Fifth Third mistakenly deposited the money in Clyde Benjamin Reed's savings account between Oct. 14 and Feb. 8.

        Mr. Reed withdrew most of it between Christmas and the end of February.

        Fifth Third asked for FBI help in July.

        “It finally dawned on them what happened,” Mr. DiPuccio said, but by then, “He'd spent a lot of it.”

        FBI Agent Kevin P. Gormley said Mr. Reed, 59, of the 1800 block of Race Street, used his Fifth Third account solely to receive and disburse a monthly Social Security check of about $500.

        He said Fifth Third mistakenly deposited another customer's wire transfers of $44,848.25, $15,969.25, and $122,698.61 into Mr. Reed's account.

        Agent Gormley said the FBI confronted Mr. Reed and he eventually helped agents find much of it in accounts in various banks and safe deposit boxes.

        Agent Gormley also said that after questioning, Mr. Reed tried to cash a check, but the financial institution stopped its own $40,000 cashier's check.

        About $50,000 is missing, Mr. DiPuccio said.

        Fifth Third spokeswoman Robbie Jennings would not say how the three deposits went astray or why it took so long to seek FBI help.

        However, she said, “No customer lost any money.”


The Moon Landing: 30 Years Later
Can city keep good name if we lose Sabin?
Bush campaign rolls into town
Kennedy's energy, grace made impression here
800 people to become citizens
Grandparents parents again
Hope prevails among Fernald workers
Little Miami asks, is winning everything?
Rash of near-drownings keeps lifeguards alert
World Cup team whips girls into soccer frenzy
- Bank goof sends man on spree - temporarily
Dinner's 'chaos' is a family tradition
Kasich campaign was no failure
Maybe Ohio has Ky. envy
Number crunching reduces dropouts
Sad ending for local chef school
Smallest words can change perceptions
Traffic ticket leads to mess of a case
What will local theater scene be in five years?
Time out ... Ahhhhh ... Time in
BET channels minority talent
Area folks prove worth watching
Quiet As Kept makes noise as Coors Festival opener
CAC is contemporary 60
Center's home will be downtown landmark
Kathy Lehr in new career at cable company
Demolition derby hit of fair
Hamilton Co. judge to lend expertise to Mongolia's courts
Lincoln Heights Health Center to get $1.7 M for new facility
N.Ky. ponders census reporting
Norwood has plan for GM lot
Playground asks business for a push
Storytellers to gather for Athens festival