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

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

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[–] slaacaa@lemmy.world 69 points 2 weeks ago* (last edited 2 weeks ago) (8 children)

Wild story, but many things I don’t get:

How could a bank CEO be so stupid to fall for a financial scam like this? He must know how these work, banks are constantly fighting against scams and warning customers
How the fuck the bank would allow the CEO to go rogue and request/make these transactions? They have board, supervisory board, risk mgmt, yet nobody stopped or noticed the fraud until his neighbor(!) told them. This institution shouldn’t be allowed to handle people’s money
Wtf is the attorney’s sad speech about being unsure ppl getting back their savings? They were insured, they get the money back. Pay the fuck up and reimburse your clients for the bank’s mistake

[–] ByteOnBikes@slrpnk.net 65 points 2 weeks ago (6 children)

This one blew me away.

According to NBC News, Hanes missed at least one opportunity to realize that he was being scammed. After he asked for a $12 million loan from a neighbor, Brian Mitchell, his neighbor detected the scam and refused to lend the money.

My limit is like $40.

[–] Plopp@lemmy.world 23 points 2 weeks ago (1 children)

Cheap bastard! Who would deny their neighbor coming over to borrow some sugar and a couple mills?

[–] echodot@feddit.uk 9 points 2 weeks ago (1 children)

Well the house is presumably up for purchase now. I feel like I want to be this guy's neighbor.

Hey Bob, I want to buy a luxury yacht but I only have $12.50 in the bank, can I borrow $2 million please I'll have it back to you by Friday.

[–] sugar_in_your_tea@sh.itjust.works 5 points 2 weeks ago (2 children)

Uh, a luxury yacht costs a lot more than $2M, $2M gets you a premium fishing/speed boat.

[–] jasoncg@programming.dev 8 points 2 weeks ago

I mean, it's one banana. What could it cost, $10m?

[–] orrk@lemmy.world 2 points 2 weeks ago

I know, these poors don't know anything about the struggles we face. (did you know mike just got himself a Benetti that's 2 meters longer than mine? honestly, who does he think he is)

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