Former bank CEO ignored warnings that he was being scammed while tanking bank.
  • Darkassassin07@lemmy.caEnglish
    115·
    9 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.socialEnglish
      59·
      9 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·
      9 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.worldEnglish
        26·
        9 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.