Millionaire withdraws $200,000, bank calls police on him

[DrDoug]

Really. I wonder if he's going to change banks...lol!

“They come bum-rushing me at the car, put me on the ground, putting guns to my head. I’m like ‘What I’d do,’” Benson continued. “A lady was like I’m not supposed to have $200,000 on me. I’m like, ‘I’m a millionaire. How can I not have $200,000 on me?’”

Maybe they will give him free checking if he stays with them.

 

[mysticjbyrd]

Odd... wtf was the manager thinking?

 

[TheELF]

Hey,they didn't shoot him,that's something.

 

[Vic]

I'm curious what the manager said in their call to the authorities. A $200k cash withdrawal is for sure a red flag and a SAR, and they could legitimately put a temporary hold on the release of the funds (pending identity confirmation, etc) but not a police emergency.

 

[DrDoug]

Maybe they thought a guy named Benson would be the butler for a rich white guy? :biggrin:

That was a great show.

 

[alcoholbob]

Cops thank the man for his contribution to the CAF fund.

 

[TonyG]

Heck, I am amazed that the bank even had that much cash on hand, my guess is that he notified them well in advanced about wanting to make that withdrawal.

 

[Phokus]

What the bank was thinking: "Woah, black guys aren't supposed to have that much money, call the cops!"

For that withdrawal, he would have had to had the bank manager involved to make the withdrawal. Not sure wtf the bank manager's problem was, he obviously authorized it.

 

[Meghan54]

Heck, I am amazed that the bank even had that much cash on hand, my guess is that he notified them well in advanced about wanting to make that withdrawal.

That's kinda what I was thinking. Heck, we withdrew $20k and had to notify the bank a day ahead of time. Cannot imagine a bank just letting almost a quarter million in cash walk out the door without some notice. Banks do have to keep a minimum of cash on hand and $200k would most likely put them well below their minimum reserve, unless prior arrangements had been made.

 

[K1052]

While that's messed up perhaps someone should tell him that the Mercedes dealership would be perfectly happy to take a cashier's check and that it's a lot safer.

 

[soulcougher73]

They bank shouldnt let him withdraw that much if he didnt have that much im sure. So wth is the bank thinking? lol

 

[Darwin333]

Oh he is definitely switching banks and the bank manager should be fired for losing them such a large account over a man withdrawing his own damn money.

 

[DrPizza]

While that's messed up perhaps someone should tell him that the Mercedes dealership would be perfectly happy to take a cashier's check and that it's a lot safer.

He's a rapper - it's part of the image to keep up his persona. He has to pay cash for the car to prove to everyone that he's got money.

Now, the bigger question: after the lawsuit, how much of that Mercedes is the bank going to be paying for?

 

[Darwin333]

While that's messed up perhaps someone should tell him that the Mercedes dealership would be perfectly happy to take a cashier's check and that it's a lot safer.

Shrug, nothing like plopping down cold hard cash though and it is his money to do with as he pleases. At least it's supposed to be.

 

[K1052]

He's a rapper - it's part of the image to keep up his persona. He has to pay cash for the car to prove to everyone that he's got money.

Now, the bigger question: after the lawsuit, how much of that Mercedes is the bank going to be paying for?

This is not entirely dissimilar from how some people act where I'm from when they come into money. It's still dumb though.

 

[K1052]

Shrug, nothing like plopping down cold hard cash though and it is his money to do with as he pleases. At least it's supposed to be.

While I agree it's still pretty unwise. You read stories about hicks that win the lotto toting around briefcases full of cash and them getting robbed. Same with pro athletes, musicians, or anyone who comes into money and doesn't know how to handle it.

As a business owner I also would't want to accept a large amount of cash because it makes you a target as well.

 

[Rhonda the Sly]

I thought this could have been an interesting story until I found out he was black then I thought to myself "Oh, that's why" and closed the tab.

 

[umbrella39]

I thought this could have been an interesting story until I found out he was black then I thought to myself "Oh, that's why" and closed the tab.

This.

 

[flexy]

Gangsta wants to act like a gangsta and is surprised when someone thinks he's a gangsta. Cool story.

 

[slackerinabox]

Gangsta wants to act like a gangsta and is surprised when someone thinks he's a gangsta. Cool story.

I don't think it's fair to judge this behavior as "gangsta." It's "coming from poverty" and "made yourself." My dad's an immigrant, was born and raised in a mud shack, and was hella proud when he bought me an omega watch in cash. Not only does it buy great bargaining power (we always cut a deal, no tax at jewelers as an example), but it's a pride thing: I don't need no damn credit - I worked for this shit!

Me? I'd be personally terrified of carrying around $200,000 - but I think that's also part of it, "I'm baller enough to walk around with 200k without fear, money that I earned on the difficult free market that is the music industry." of course he probably has body guards too.

I don't think this fellow was in the wrong at all, and the cops just doing their job. The back manager should be fired. Also, we can argue that wearing a wife beater to pick up 200g might be foolish, but I've met millionaires who refuse to wear anything but margaritaville shirts, even at black tie events. It's sorta a "I earned the right to dress however I'd like." But, as a brown guy, I would have dressed business casual and carried around a lot of identification and no weapons (even legally registered ones)

 

[DigDog]

...
(that is my face when i read the OP)

 

[Darwin333]

Gangsta wants to act like a gangsta and is surprised when someone thinks he's a gangsta. Cool story.

How about American citizen has guns pointed at him and is handcuffed for merely withdrawing his own money from his bank account?

During Katrina we would withdraw similar amounts of cash. Our workers and tons of subcontractors we brought in were staying in the city and we had to drive 120 miles to the nearest open branch. Paying them with a check was useless because they couldn't do shit with a check and well they kinda needed their money at the time. We had 4 armed people in the vehicle and the place we distributed it but we never had the cops called on us by the bank nor did we have to explain ourselves. We did have to call well in advance though so they could coincide an armored truck with our pickup. I think they might have had a policy of not keeping that much cash on hand or something because we had to wait for the truck every time instead of the cash already being in the bank waiting on us.

 

[Knowing]

They're supposed to report cash transactions over $10k, and then they have an obligation to file SARs (a behavior that appears to be increasing). Calling the police like he's about to buy anfo from the FBI was probably overkill though.

 

[FelixDeCat]

...

 

[BonzaiDuck]

They're supposed to report cash transactions over $10k, and then they have an obligation to file SARs (a behavior that appears to be increasing). Calling the police like he's about to buy anfo from the FBI was probably overkill though.

I would no doubt hesitate to throw out an assumption that a sort of residual racism plays into this, just as a possibility.

The guy plainly had a right to withdraw his money -- and "that much money."

What sort of Mercedes was he set on purchasing? I can imagine a model costing between $80K and $100K. Is there a model they offer with a higher price-tag?

But this still goes back to advice, possibly mentioned by Obama himself and others, that young black men need to think more carefully as they negotiate their way through life's more hazardous situations.

As someone said, $10K raises the flag associated with the RICO statute.

If I were a young, wealthy black man, given the ubiquitous application of RICO, would I not choose to use my checkbook?

He suffered more than just an inconvenience for choosing the ironic convenience of "cash."