On her lucky day, Kelyn Spadoni thought it was her passage to wealth when Charles Schwab accidentally deposited $1.2 million into her bank account. The diligent 911 dispatcher saw the unexpected deposit as a stroke of luck and decided to use the money to upgrade her lifestyle. She bought a home and automobile with among of money only to discover that she never owned the cash and would need to return it to the bank.

Spadoni was arrested on a charge of theft valued at over $25,000, as well as additional charges of bank fraud and unlawful money transmission after she refused to return the cash. When Schwab tried to get back the money they had inadvertently deposited into Spadoni’s brokerage account, it was no longer there.

On November 10, Spadoni was arrested on the aforementioned charges. After it was revealed that she had been arrested, she was dismissed from her position as a 911 dispatcher with the Jefferson Parish Sheriff’s Office. She posted bail of $50,000 and was released from the Jefferson Parish Correctional Center on Thursday, and she will have to return to court to defend herself against the allegations leveled against her.

According to Charles Schwab, a clerical error gave Spadoni an inflow of $1,200,000 into her online brokerage account. The company intended to deposit $82.56 into her account but inadvertently deposited $1,205,619 instead. As soon as the bank attempted to retrieve their money, they were unable to do so because it was no longer in the account – Spadoni had taken it out to spend on herself.

“It’s not her money,” insists Capt. Jason Rivarde, a sheriff’s spokesman. Even though the bank mistakenly credited it to her account, the sheriff’s department claims that Spadoni transferred the unexpected cash into another account. Then she allegedly turned over the money for a new house as well as a 2021 Hyundai Genesis.

“She has no legal claim to that money,” Rivarde said. “Even if it was put in there by mistake. It was an accounting error.”

On Tuesday, Schwab filed a lawsuit against Spadoni in the United States District Court. An attorney for the company attempted to contact the 911 dispatcher several times but was unable to do so. Fortunately, Schwab has been able to recover approximately 75% of the funds that were put into Spadoni’s account.

In this case, Charles Schwab stated that their client agreement requires them to return the cash if they receive an overpayment.

“If someone accidentally puts an extra zero on a utility payment, they would want that money returned or credited to them. This is no different,” Rivarde stated.

Spadoni had worked for the sheriff’s office for four years before being fired, and she was a hardworking and dedicated employee. However, after the allegations against her were revealed, she lost her job because the sheriff’s department is siding with Charles Schwab on the issue.