Society

Student Blows $1M On Cars And Cocaine After Bank Glitch

| by Sam Gravity

A broke college student blew almost $2 million on luxury vehicles, strippers and cocaine after a banking error gave him an unlimited overdraft.

Australian Luke Moore opened a Complete Freedom account with St. George in March 2010, when an administrative error allowed him to overdraw the account.

Instead of reporting the technical glitch, Moore financed a luxury lifestyle of cars, drugs and women for almost two years before the bank caught wind of his antics, The Sun reports.

“With age comes wisdom and confidence, and I’ve learned money doesn’t buy everything, but it was great while it lasted.” Moore told The Daily Telegraph.

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From July 2010 to Aug. 2012, Moore spent a total of $1.5 million of the bank’s money, with an additional $600,000 withdrawn and distributed amongst multiple accounts.

Moore spent the money on a collection of luxury goods including three sports cars, a speedboat, holidays to the Gold Coast and Thailand and a signed Michael Jordan jersey, according to the Daily Mail.

“I enjoyed driving around in flash cars with no shirt, no shoes and with the wind in my hair whistling at the meter maids on the Gold Coast.” Moore said. “Would I do it again? No.”

The luxury items were seized when the banking glitch came to light, and Moore was sentenced to four and a half years in jail for obtaining financial advantage by deception and three years for dealing with proceeds of crime.

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Moore served five months in jail before the New South Wales Court of Criminal Appeal ruled his conviction a mistake, releasing the accidental playboy in Dec. 2016 on the grounds that his actions had not been deceptive.

“I pull more chicks now with $20 in my pocket than I did when I was splashing the bank’s cash,” Moore said, claiming he doesn’t miss the luxury lifestyle.

Moore is now “readjusting to real life” in his mother’s home in South Wales, completing his criminal law degree while surviving off of two-minute cup noodles, the New York Post reports.

“I had to give everything back and I now drive a shoebox Falcon, but I'm happier this way as I've realized my family and friends are my biggest treasures," Moore said.

Sources: The Daily Telegraph, Daily Mail, The Sun / Photo Credit: Ray Strange/The Daily Telegraph

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