21-year-old student spends millions of dollars on handbags after bank accidentally gave her unlimited overdraft

Christine Jiaxin Lee 
By: Feng Qian

(Scroll down for video) A college student was arrested on a charge of knowingly dealing with the proceeds of crime after allegedly spending millions of dollars on handbags with money that did not belong to her, according to police in Australia.

21-year-old Christine Jiaxin Lee of Sydney, was arrested as she was trying to board a flight to Malaysia, after spending more than $4 million over a four year period.

Lee has been charged with dishonestly obtaining financial advantage by deception and knowingly dealing with the proceeds of crime.

She was booked into jail, and her bail was set at $1,000. Lee was ordered to surrender her passport and live with her 18-year-old boyfriend.

She was also ordered to register with the police twice a day.

According to the police investigation, Lee opened a checking account a month before her 18th birthday. About a year later, Westpac accidentally gave credit to the account in the form of an unlimited overdraft.

Lee kept spending money until her outstanding balance reached $4,653,333. Lee spent about $1 million on handbags.

The rest was spent on other luxury items and money transfers.