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 2 months ago by [email protected] to c/[email protected]
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[โ€“] [email protected] 36 points 2 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."

[โ€“] [email protected] 26 points 2 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.