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Ex-bank CEO gets 24 years after falling for crypto scam, causing bank collapse (arstechnica.com)

submitted 3 months ago by Xatolos@reddthat.com to c/technology@lemmy.world

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[-] Darkassassin07@lemmy.ca 117 points 3 months ago

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

[-] ShepherdPie@midwest.social 59 points 3 months ago

It states that he never once received anything back yet was convinced even after being arrested and sending 10s of millions of dollars into a black hole, that he only needed another month or two to earn everything back. How the fuck can someone be duped so hard?

[-] Shawdow194@fedia.io 36 points 3 months ago

"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 months 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.

[-] technocrit@lemmy.dbzer0.com 1 points 3 months ago

He was going to pay it all back tho!!! smh.

this post was submitted on 22 Aug 2024

491 points (97.5% liked)

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