Poor Thang: Man Arrested For Going On Spending Spree With $110K That The IRS Put Into His Bank Account “By Mistake”

- By Bossip Staff Categories: Arrests, News, SMH

stephen mcdow 110K irs

SMH:

A Laguna Beach man who failed to notify authorities after over $110,000 was mistakenly transferred into his bank account now faces jail time, prosecutors said Wednesday. Stephen McDow is charged with one felony count of grand theft by misappropriation of lost property — with an enhancement for taking property worth over $65,000 — after finding the money in his own checking account. Prosecutor Matt Lockhart said a filing error was blamed after the Internal Revenue Service transferred it electronically to the wrong person. “He received the money on Sept. 10, 2010 and on Sept. 11, 2010 he started spending the money on various bills that he had,” said Lockhart.

Lockhart said the mix-up came after an unnamed Los Angeles woman inadvertently provided the IRS with a Citibank account number that had been closed in 2004 and was subsequently reassigned to McDow.

After attempts were made by the woman’s attorneys to recover the funds, McDow told them he had already spent up to $60,000 of it on car and student loans and to keep his home out of foreclosure, Lockhart said.

McDow faces four years in prison if convicted and is being held on $110,000 bail.

What would you do in this situation??

Source

Comments

  • Cici

    I think they should cut the poor guy some slack, at least he was paying his bills and not spending the money on frivilous junk.

  • Felice

    He should have contacted the IRS, immediately.

  • Kiana

    Guess he didnt think to realize that they would catch that mistake he need to return some things n hire a good attorney

  • pyt896

    We would be cellmates….

  • Toshiana

    He probaly really thought it was a miracle

  • gina

    I would SLAP the F**k out of the Chief of the Slap a Hoe Tribe before I mess with one dime of the United States of America Department of Treasury, Internal Revenue Service money. And when they said I paid too much and corrected my return I left the money in my accout until I got it in writing. Bro is totally stressed out….student loans, house foreclosure and he looks like he has some other stuff going on….Mr. Prosecutor please give him a break!

  • Superhead

    Its not his fault they made the mistake y should he go to prison it was his bank account so he spent what he thought was his money…. { he is the victem~ he shouldnt pay for thier careless dumb mistake

  • he_is

    That’s the banks fault. Hell, if I got money dropped in my account by accident, I would spend it too

  • homicidalbrainiac

    People don’t think things through…He knew the money wasn’t his, so why spend any of it? $110,000 will be missed and it’s very easy to track a bank account. I would have been excited too, but I’d also know that someone would be looking for their money. I’m sorry he ended up in jail, but it is misappropriation…

  • wft

    The irs employee that made the mistake should be held accountable too if anything. At least terminated from the job. Its not fair that poor man has to go to jail for a mistake iniciated by someone else. I think they should just take it out his own taxes every year until he’s done paying but not jail time, that’s too harsh. He looks like a responsible family man that fell victim to the circumstances.

  • http://idontmakethenews.com/2011/06/19/poor-thang-man-arrested-for-going-on-spending-spree-with-110k-that-the-irs-put-into-his-bank-account-by-mistake-via-bossip-gossip-for-the-hardcore-entertainment- Poor Thang: Man Arrested For Going On Spending Spree With $110K That The IRS Put Into His Bank Account "By Mistake" (via Bossip | Gossip for the Hardcore | Entertainment News | Music | Fashion | Black Celebrity) « I Don't Make The New

    […] SMH: A Laguna Beach man who failed to notify authorities after over $110,000 was mistakenly transferred into his bank account now faces jail time, prosecutors said Wednesday. Stephen McDow is charged with one felony count of grand theft by misappropriation of lost property — with an enhancement for taking property worth over $65,000 — after finding the money in his own checking account. Prosecutor Matt Lockhart said a filing error was blamed afte … Read More […]

  • http://idontmakethenews.com/2011/06/19/poor-thang-man-arrested-for-going-on-spending-spree-with-110k-that-the-irs-put-into-his-bank-account-by-mistake-via-bossip-gossip-for-the-hardcore-entertainment- Poor Thang: Man Arrested For Going On Spending Spree With $110K That The IRS Put Into His Bank Account "By Mistake" (via Bossip | Gossip for the Hardcore | Entertainment News | Music | Fashion | Black Celebrity) « I Don't Make The New

    […] SMH: A Laguna Beach man who failed to notify authorities after over $110,000 was mistakenly transferred into his bank account now faces jail time, prosecutors said Wednesday. Stephen McDow is charged with one felony count of grand theft by misappropriation of lost property — with an enhancement for taking property worth over $65,000 — after finding the money in his own checking account. Prosecutor Matt Lockhart said a filing error was blamed afte … Read More […]

  • http://idontmakethenews.com/2011/06/19/poor-thang-man-arrested-for-going-on-spending-spree-with-110k-that-the-irs-put-into-his-bank-account-by-mistake-via-bossip-gossip-for-the-hardcore-entertainment- Poor Thang: Man Arrested For Going On Spending Spree With $110K That The IRS Put Into His Bank Account "By Mistake" (via Bossip | Gossip for the Hardcore | Entertainment News | Music | Fashion | Black Celebrity) « I Don't Make The New

    […] SMH: A Laguna Beach man who failed to notify authorities after over $110,000 was mistakenly transferred into his bank account now faces jail time, prosecutors said Wednesday. Stephen McDow is charged with one felony count of grand theft by misappropriation of lost property — with an enhancement for taking property worth over $65,000 — after finding the money in his own checking account. Prosecutor Matt Lockhart said a filing error was blamed afte … Read More […]

  • dani

    it wasnt the irs agent nor this mans fault the article clearly says the woman whos money it was gave the irs a old bank account number from 04 which now belongs to this man…wtf was she thinkin smh

  • dani

    the article clearly states the woman whos money it was gave the irs a old bank account number from 04 wtf was she thinkin…it should b her lost not the irs or this man

  • Ms Indiana

    He waited a whole year to spend it, they should’ve caught that mistake within that year. If I was him I use the rest for a good lawyer

  • Sabrina

    @ms indiana it stated the money was deposited sept 10 2010 n he stated spending the money sept 11 2010 which is a day later not a year sweetie only a day

  • Marquis de Sade

    Off topic, but is everyone posting their comments from their smart phone instead of their desktop or laptop? I’m asking because the comments I’m reading on my Blackberry differs from the comments on my desk top.

  • homicidalbrainiac

    Marquis de Sade is back?! Yay! I thought you had left. I always enjoy your comments.🙂

  • Nola bound

    that’s sum bs for real. If it’s in my account, IT’S MINE. Point, blank, period. The guy had every right to spend that money.

  • Cole, you stupid!

    I understand that to a person in financial distress such a large deposit may seem like an on time miracle, but do due diligence first. Call your bank AND call the IRS. When you look at your account online, it shows the origin of every electronic deposit. He committed a crime by willfully spending money that was not rightfully his instead of further acquiring about its authenticity. Leniency would be nice, but I’m not sure he deserves it since he didn’t verify such a huge sum of money. If you have student loans, you should know there are 2 people you don’t mess with… Sallie Mae and Uncle Sam.

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