Luke Moore's luxurious lifestyle came to a screeching halt when the bank finally realised he was $1.3 million overdrawn.
Moore had been jet-setting around the world for the prior two years on the bank's dime thanks to an error that allowed him an unlimited amounts of overdrafts. Moore first noticed the error in March 2010 when he opened a Complete Freedom account at St. George Bank and realised there was some truth to its advertising. He had complete freedom to withdraw as much money as he wanted, and boy did he.
Between July 2010 and August 2012, Moore flew around the world and collected a massive amount of luxury goods, including a Maserati, an Aston Martin, and a Hyundai. On top of the cars, he bought a speedboat, a framed Michael Jordan jersey, some Banksy art, and an autographed photo of Kylie Minogue.
"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," he told the Daily Telegraph.
In August 2012, though, his playboy lifestyle ended when the bank finally realised their error. St. George immediately froze his account and filed charges. Moore was convicted of obtaining financial advantage by deception and three years for dealing with proceeds of crime. He was sentenced to a maximum of four-and-a-half years in jail for his actions, but after only five months in prison, he won an appeal of his conviction because the court ruled he never tried to deceive anyone.
Moore is now a broke student living off of government subsidies, but don't feel too sorry for him. "I pull more chicks now with $20 in my pocket than I did when I was splashing the bank's cash," he said.
