this post was submitted on 22 Aug 2024
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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 [email protected] to c/[email protected]
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[–] [email protected] 117 points 3 months ago (3 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

[–] [email protected] 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?

[–] [email protected] 36 points 3 months 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."

[–] [email protected] 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.

[–] [email protected] 1 points 3 months ago

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