Thursday, July 7, 2011
ATM receipt found with a $99M balance available
In East Hampton, New York, someone is claiming to have found an ATM receipt showing a remaining account balance of $99,864,731.94.
It was found sticking out of the slot at the Capital One Bank in East Hampton Village by the next customer -- who turned it over to the financial tabloid Web site Dealbreaker.com
The transaction, which took place at 10:14 p.m. on June, 18, shows the bank hit the customer with the $2.75 charge for an out-of-network $400 withdrawal, the site claimed.
The man who reportedly found the receipt was perhaps a bit more blasé than your average depositor.
A source identified him as a Wall Street exec.
Dealbreaker identified the account holder as well-known hedge-fund manager and Appaloosa Management chief David Tepper, even though he told the Web site he "hadn't used an ATM since Lehman," whose collapse helped set off the 2008 financial crisis.
Contacted by The Post last night, Tepper laughed the whole thing off, saying he "wasn't in the Hamptons in June at all."
And the financial whiz scoffed that he's too sophisticated a money man to leave so much cash in a low-yielding account.
"I would never do something as irresponsible as leaving $100 million in a savings account," he said.
Tepper, 53, who has a wife and three kids, does, however, have ties to the Hamptons.
He shelled out $43.5 million -- all in cash -- earlier this year for a mansion in Sagaponack.
He promptly demolished the 6,100-square-foot residence and plans to build a new -- nearly twice-as-big -- home on the same site.
The bank, at 40 Newton Lane, is in a neighborhood that would certainly attract extremely affluent customers.
The ritzy commercial stretch is often called the Rodeo Drive of the East Coast.
The branch is flanked by high-end handbag-maker Coach and elite clothier Theory.
But it's not clear where the customer spent his 400 bucks.
The owner of the receipt is unclear, but whoever it is withdrew $400, and paid $2.75 in out-of-network ATM fees.
I guess it’s hard to worry about $2.75 when it’s only 0.0000027 percent of your total
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