Technology

59569 readers

4421 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

490

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

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

77 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] jpreston2005@lemmy.world 50 points 3 months ago (1 children)

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.ca 15 points 3 months ago (1 children)

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??

[–] barsquid@lemmy.world 8 points 3 months ago

Yeah, now they'll reconsider if their intended victims have a certain net worth.