I thought part of the reason for the enormouse CEO paychecks was they were ultimatly responsible for things like this? After they took the money, they want to

I thought part of the reason for the enormouse CEO paychecks was they were ultimatly responsible for things like this? After they took the money, they want to say "even thought i was paid to run the company, i had no idea this was going on?" not sure it works that way.