this post was submitted on 22 Aug 2024
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491
Ex-bank CEO gets 24 years after falling for crypto scam, causing bank collapse (arstechnica.com)
submitted 4 weeks ago by Xatolos@reddthat.com to c/technology@lemmy.world
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[–] Darkassassin07@lemmy.ca 116 points 4 weeks ago (4 children)

Hanes stole tens of thousands from a local church, then a local investor club, and finally his daughter's college fund, NBC News reported. Then when all those wells dried up, he started stealing bank funds

Wow, what a PoS

[–] Shawdow194@fedia.io 36 points 4 weeks ago (1 children)

"Many victims will never fully recoup losses to their life savings and retirement funds, but at least we at the Department of Justice can see that Hanes is held criminally responsible for his actions."

[–] teft@lemmy.world 26 points 3 weeks ago

I would hope most people would be made whole through FDIC insurance. That's 250k per depositor, per insured bank, for each account ownership category.

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