An elderly man at risk of losing his home after transferring $71,400 to the wrong person is breathing a sigh of relief after the community raised money and the bank agreed to reimburse most of the cash.
Gordon Layton, an 88-year-old great-grandfather from Bundaberg, Queensland, sent the money from his ING bank account to an ANZ account on June 14.
He saved the ANZ account under the wrong name and sent the money to a different person who allegedly refused to hand it back.
That man has since been charged with theft by police.
Gordon Layton, an 88-year-old great grandfather from Bundaberg, eastern Queensland mistakenly transferred $71,400 to the wrong account
The money was for a house moved onto Mr Layton's block of land which the pensioner intends to renovate and move into.
He and his daughter Jacqui Morrison-White realised the cash transfer error within three hours but it was apparently too late.
Both banks initially told Mr Layton there was nothing they could do - ANZ had asked for the money back but the recipient allegedly said no - and the cash was then withdrawn