Mobile Banking Glitch Allows Man To Blow GBP 1 Million On Cars And Property

A Russian man is in hot water for taking advantage of a banking app glitch to spend money he did not have on cars, apartments, and holidays before blowing nearly GBP 1 million.

Roman Yurkov, 36, faces 12 years in prison after taking an alleged RUB 95 million (GBP 916,940) from an unspecified Russian bank in Tula located in the region of Tula Oblast.

Local news site Myslo said that Yurkov’s bank launched an update that resulted in a mobile banking glitch in summer 2020.

Roman Yurkov 36, became a millionaire due to a bank error, he is now facing imprisonment for spending the money in Tula, Russia. (Roman Yurkov/Newsflash)

The suspect allegedly took advantage of the malfunction, allowing him to spend money without the cash being deducted from his accounts.

The 36-year-old man allegedly went on a spending spree, buying apartments, expensive foreign cars, and booking fancy holidays.

Following a spending spree that allegedly went unnoticed for months by the bank, the authorities eventually caught up with him.

Local media said that Yurkov has agreed to pay back RUB 39 million (GBP 337,820), but that still leaves him significantly indebted to the bank.

According to Myslo, the suspect is now facing charges of embezzlement and could be handed a prison sentence of up to 12 years if convicted.

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