Penny Games

You know how sometimes, when you open an account of some sort online (PayPal, Schwab, etc.) they deposit a couple of cents in your bank account and then have you verify the amount? I always thought there was some money to be made there and one Michael Larchent has proven that there was, at least for awhile. Using various cartoon names and fake social security numbers, Larchant signed up for tens of thousands of accounts and made, well, not all that much really. Probably about $20,000 all tolled, which doesn’t sound like much in the grand scheme of financial crimes, but if you’re trying to pay off a coupla credit cards, as Larchent was, it would probably help a lot.

My favorite part of the whole story is when he talks about opening up several thousand Google check-out accounts and explains that there’s nothing in the terms of agreement that limits the number of email addresses you can use. He needed to pay off some debts, he explained, and this was a perfectly legit way to make money. Unfortunately, the federal government didn’t see it that way.

What do you think?

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2 Responses

  1. geo8rge

    I am not Jewish (*), but since you brought it up you might be amused by:

    eBay auction item from slotdragracer,
    $50 Bag of copper cents – 5000 cu pennies – Below melt
    Item number: 170223056876
    (fear not, he will be relisting this auction for quite some t

    Reply

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