Guy did to bank what banks usually do to people!
In the USA your mail is constantly flooded with credit card offers from different banks with different deals (for every $1000 you spend you get $1 back, etc). The one thing that is advisable though, before signing up for these credit cards, is to read all of the fine print- because banks will write some weird stuff in there that really screws you over in the long run (Miss a payment and pay 200% more interest rate, etc).
Well it turns out when you send those applications back to the banks, they do not read what you have signed- and they will sign the application, to make it a legal document.
A 42 russian man may have taken advantage of this fact and really had his way with a bank by scanning the documents they sent him in the mail, changing some of the text to make stipulations such as 0% interest rates, unlimited credit card and no fees- and most importantly, a huge fee if the bank tries to change the contract or cancel it.
The bank signed without reading it- and after 2 years, they took the man to court to sue him. The judge, after reading the contract- sided with the man. The bank wanted late fees, interest rates and most importantly their money. The judge ruled that the man owed only his balance, just over $500. The man is now counter suing because the contract says they can not cancel- he wants $700,000. Usually the banks take people to court for "not reading the contract," it's good they are in the wrong for once.
Well it turns out when you send those applications back to the banks, they do not read what you have signed- and they will sign the application, to make it a legal document.
A 42 russian man may have taken advantage of this fact and really had his way with a bank by scanning the documents they sent him in the mail, changing some of the text to make stipulations such as 0% interest rates, unlimited credit card and no fees- and most importantly, a huge fee if the bank tries to change the contract or cancel it.
The bank signed without reading it- and after 2 years, they took the man to court to sue him. The judge, after reading the contract- sided with the man. The bank wanted late fees, interest rates and most importantly their money. The judge ruled that the man owed only his balance, just over $500. The man is now counter suing because the contract says they can not cancel- he wants $700,000. Usually the banks take people to court for "not reading the contract," it's good they are in the wrong for once.
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