Boss accidentally sent $372,000 to wrong bank account and still hasn't got money back a year later

The boss who accidentally sent $372,000 to the wrong bank account still hasn't gotten the money back.

We all make mistakes at work, some of which are easier to correct than others.

For Digby Beaumont, however, his mistake has certainly proved to be a huge pain for him.

Beaumont, who works as the head of investments at Palisade Real Estates, is still trying to sort out a pretty sizeable mistake that he made back in June 2022.

LinkedIn

On behalf of of family trust A&D, the Aussie was given the go-ahead to commence on an investment in L1 Capital’s Long Short Fund via a third party called Apex Group.

The boss purchased AUD $500,000 ($332.561) worth of units in the fund, which would now be worth AUD $560,000 ($372,908) if redeemed, and Beaumont had filled out the details for the account by hand.

Unfortunately, when it came to cash the returns, it turned out that the wrong account number had been entered, so the money was sent there instead.

Whoops.

An interim order from the New South Wales Supreme Court said: "Mr Beaumont, and indeed Apex, became aware that the monies had been paid into the wrong account by reason of the misstatement in the initial application form.

"Mr and Mrs Beaumont completed a change of details form to nominate the correct BSB number.

"However, the proceeds had already been paid into another account with the Commonwealth Bank."

The order also said that CBA had been unable to contact the recipient for several days.

Pixabay

But luckily for them, an order is now in place to prevent whoever received the money from withdrawing or spending it.

His team of lawyers have also been granted powers of 'discovery' to allow them to identify who holds the account.

This will help them move onto the next step of recovering the funds.

In communication with lawyers from the Commonwealth Bank, Beaumont's solicitor asked if the money was still in the account, according to the judgement.

They replied: "I can't tell you that but let me have a think about what I can tell you. Well, let's just say a freezing order tomorrow is a good idea."

The judgement went on to say that CBA 'must not permit funds to be withdrawn from the account unless, following such withdrawal, there will remain in the account funds equal to or greater than the value' transferred to it.

UNILAD has contacted Paliside Real Assets for comment.