A local bank has put into my saving account USD 500,000 and they have discovered the mistake after 2 months, now they are asking me to return it, I am planning to return it but first I want to double it... advise me and take 5% from the total amount!
2006-07-22 09:53:31 · 12 answers · asked by salah m 1 in Business & Finance ➔ Investing
That is easy open up a margin account with a brokerage firm transfer money into the account. You will have twice the buying power monitor some stocks and make some day trades. You might not double it but you can make some serious cash before you give the money back.
2006-07-23 16:11:39 · answer #1 · answered by therizza4yaizza 2 · 0⤊ 2⤋
The quickest way to double it would be to take it to Vegas, and put it on a single bet, like roulette or blackjack.
However, you could also lose everything, which would put you in jail.
If it's not your money, then you can't do anything about it. Even removing it at this point would be fraud, and could land you in jail even if you return the money.
Banks don't really have any sense of humor about this, so I would recommend doing nothing. Maybe push to get your name in the paper as an honest guy?
2006-07-22 12:20:24 · answer #2 · answered by Polymath 5 · 0⤊ 0⤋
If the bank inadvertently deposited money into your account, I believe that it is your legal and moral obligation to return it immediately. As for doubling the money, at 10% interest per year, it would take over seven years to accomplish doubling.
2006-07-22 10:42:36 · answer #3 · answered by kearneyconsulting 6 · 0⤊ 0⤋
I don't think they ask you. They will withdraw directly without your consent and send you a letter.
It happens to me one time. I withdraw a 200 and they deposit 200 by mistake. After 2 days they withdraw that money and send letter to me regarding that.
Plus it doesn't make sense to make 500K double in short period and if this is the case everybody will be billionaire here.
Also i am wondering when you know this, why you didn't notify them? You know that this was by mistake. You are putting your self in trouble by thinking in wrong direction.
2006-07-22 17:04:45 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The only way to double in a short period of time is by using very risky financial instruments, like stocks options; but you could lose everything this way.
2006-07-22 11:07:52 · answer #5 · answered by Lisandro V 4 · 0⤊ 0⤋
How much time do you have before you have to return the money? If its a month it can be doubled.... 2 wks 1/4.....days very tough and riskier..... Let me know how much time you have.
2006-07-22 10:20:34 · answer #6 · answered by edwards_j 2 · 0⤊ 0⤋
Get into the Forex market....very risky, but very profitable...i would check out WWW.GFTFOREX.COM
They have a demo program that will teach you almost everything about it in like two day....then you are ready for the market. Also they will give you a personal rep that will walk you through everything about Forex and what it can do for you!!!! I love it!!!!
2006-07-22 12:29:51 · answer #7 · answered by Shaun W 1 · 0⤊ 0⤋
You have to go to africa and by diamond and sell it in USA. You will be able to double your credit in a few days...
2006-07-22 10:47:36 · answer #8 · answered by Abala S 3 · 0⤊ 0⤋
500K hmmmmmmmmmm go by some meth or coke and sell it for twice whatyou paid - you will then make double your investment
peace out
2006-07-22 11:27:38 · answer #9 · answered by johnnystl71 2 · 0⤊ 0⤋
dont take any risk..
just give it back to the bank..
if your lose the money the problem will be bigger..
no instant money...its all fake...
wisely make your decision please..
2006-07-22 13:27:35 · answer #10 · answered by Tarumi 2 · 0⤊ 0⤋