Former bank CEO ignored warnings that he was being scammed while tanking bank.
  • tiramichu@lemm.eeEnglish
    16·
    3 months ago

    He didn’t get jail time for falling for a scam, he got jail time for stealing people’s money.

    • bitofhope@awful.systemsEnglish
      7·
      3 months ago

      Yes, but stealing people’s money is just a normal banker crime. Falling for a scam should be more embarrassing. That’s what they’re supposed to make other people do.

  • Alphane Moon@lemmy.worldOPEnglish
    15·
    3 months ago

    Funny how low-level crooks get hammered hard when they get caught, but you never hear of big fish running more sophisticated schemes (like those American bank executives who ordered their unit to make fake client accounts without their permission to hit some KPI bonus) getting even a slap on wrist.

    • Tinidril@midwest.socialEnglish
      5·
      3 months ago

      It was Wells Fargo, and he was actually fired under threat from Congress led by Elizabeth Warren. The board replaced him with his chosen successor who had also been implicated and Congress actually stepped in again to force the replacement out. It would be nice to see them charged with something, but there is really no evidence that they actually broke the law themselves, they just created the massively over-competitive environment that made some desperate workers into criminals.

      It’s not the justice I would want, but “slap on the wrist” seems like an accurate description.