NEW YORK, 7 August — Police in New York have arrested 66 people for milking thousands of dollars from cash dispensers at a bank near ground zero after its computer network was damaged by the collapse of the Twin Towers.
The surprise sweep provides a sobering contrast to the image of New Yorkers rising as one in the aftermath of the catastrophe. Instead, it seems, a good number of its denizens saw the opportunity to cash in on tragedy — and did not hold back.
Most poignant is the revelation that the institution, the Municipal Credit Union, was aware of the fault in its cash dispensing system that allowed customers to withdraw as much money as they liked, short-circuiting their overdraft ceilings.
The bank, which is a not-for-profit organization, nonetheless decided to keep the machines working, because most of its members are city employees, including firemen, police officers and teachers. The decision was taken partly as a matter of trust and partly because many of the heroes of Sept. 11 were among that roster of customers.
“We did this at a time of crisis in the city,” commented Thomas Siciliano, the chief lawyer for the bank. “We did not realize on the first day there would be this kind of loss.” All of those already rounded up went $7,500 or more beyond their limits. One man who previously had never had a negative balance of more than $130, went on a spree, making 53 different cash withdrawals in addition to making scores of Visa payments on his bank card, at places ranging from clothing stores to a Harlem motel. He spent $10, 378 by the end of October.
Announcing the arrests, Robert Morgenthau, the Manhattan district attorney, said that the episode showed that “no good deed goes unpunished” in a city renowned for its voracity for the dollar. He said that another 35 people are being sought for arrest and 4,000 more are under investigation.
Able at least to see how much was being taken out by the individuals, the bank asked for the money back or offered to convert the withdrawals into loans with reduced rates of interest. All those already arrested are among those who ignored the bank’s pleas. They face up to seven years in prison, if arrested. (The Independent)
