Former bank CEO ignored warnings that he was being scammed while tanking bank.

More like this, please!

  • halcyoncmdr@lemmy.worldEnglish
    5·
    28 days ago

    “He said … ‘If I just had another two months, I could get the money back,’” Mitchell told NBC News.

    So the CEO was a gambling addict on top of being a clear idiot. How the fuck do these people fail their way into these positions and not get filtered out along the way?

    • Aurenkin@sh.itjust.works
      6·
      28 days ago

      I guess they must have worked hard.

      Lol I’m sorry I couldn’t even type that with a straight face 😂

    • AlternatePersonMan@lemmy.world
      1·
      28 days ago

      This was a sad read. A gambling addict would have at least had a chance to make money. This guy just kept throwing money away other peoples money and never saw any returns.

      I can’t believe someone at the bank didn’t question the strange wire transfers. Or that the guy who told him he was being scammed didn’t immediately reach out to the authorities.

      Question: Wouldn’t the FDIC reimburse most of these people’s money?

  • jordanlund@lemmy.world
    2·
    28 days ago

    Shit like this is infuriating. I had someone try it on me and I strung them along to see what the scam was.

    Basically “invest in my crypto and you can get 3x your money back.”

    So I asked them “which crypto?” and I looked it up… they swore there were these limited windows where it spiked in value. Sell at that window and make 3x your money.

    So I pulled 6 months worth of history… no spikes. None.

    What they do is set up a fake payment portal where money goes in and nothing comes out.

    • NarrativeBear@lemmy.world
      3·
      28 days ago

      “What they do is set up a fake payment portal where money goes in and nothing comes out.”

      They actually go alot further in making the scam seem legit. They setup full trading platform apps that look legit. These apps are listed in the apple store and play store, they even have real real reviews.

      You download the app yourself, you setup your profiles yourself. Everything seem legit because you actually setup the acounts.

      You then put money into these “accounts”, you watch the value go up and down like it normally would on a stock market. Then when you are happy with your “investment”, time to withdrawal and there’s no money to take out.

    • some_guy@lemmy.sdf.orgOP
      2·
      28 days ago

      Yes, that’s exactly right. Though in some cases, they let the victim make one withdrawal after they get an initial “profit” just to make it appear legit. But never more than that one.

  • ShepherdPie@midwest.social
    2·
    28 days 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.”

    Can someone explain how they lost this money if the FDIC covered the missing $44M?