We've all made mistakes with campaign launches, setting the wrong budget or targeting, etc...
Not too often do we see refunds or adspend forgiveness of $112k.. that's what happened to a 12 year old boy who was promoting his YouTube videos but thought he was making money and on his way to being a "rich YouTuber".
My thoughts on the matter are... does Google not have an age or identity verification method in place? do they always allow for $100K+ adspend bills to accumulate before stepping in? If so.. this can be exploited easily.
Read the article here.
Weird, when I started with adwords they billed me my CC in $500 increments and it took quite a while to put me on net30 billing, the first step was $37500 if I recall it correctly. Guess the terms have changed for new advertisers or the kid had access to an aged account.
This must be an urban legend as google charges your credit card automatically every X time and I doubt a 12 year old has a 112K spending limit