Former bank CEO ignored warnings that he was being scammed while tanking bank.
  • jpreston2005@lemmy.worldEnglish
    49·
    9 months ago

    Because the bank was insured by the Federal Deposit Insurance Corporation (FDIC), the FDIC “absorbed the $47.1 million loss” after "Hanes’ fraudulent actions caused HTSB to fail and the bank investors to lose $9 million.

    his sentence of more than 24 years is 29 months longer than prosecutors had requested, NBC News reported.

    Here, the only reason he’s seeing jail time. Not because he stole, but he stole from the rich. Tanking a bank and losing poor peoples money won’t get you anything. But lose rich peoples money, and you’re going down. There are two justice systems in america, and you don’t have access to the one that works.

    • kent_eh@lemmy.caEnglish
      15·
      9 months ago

      Here, the only reason he’s seeing jail time. Not because he stole, but he stole from the rich.

      Regardless, maybe the reality that a C-suite executive is spending a quarter century in jail might mean there’s a chance it’ll prevent others from trying something similarly corrupt?

      Maybe?

      Please??