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This is a dishonest headline. He got 24 years for embezzlement. He did not put any money in crypto, he sent it to scammers who led him to believe it was being
by pcthrowaway 2y ago
This is a dishonest headline.
He got 24 years for embezzlement. He did not put any money in crypto, he sent it to scammers who led him to believe it was being invested in crypto.
- basementcat 2y agoThe Material Loss Review (linked below and elsewhere) provides details of the "pig butchering" scam, wire transfers to crypto platforms and mentions that $8-$12 million worth of crypto may be recoverable (but would not be enough to restore the bank's required capital). https://oig.federalreserve.gov/reports/board-material-loss-review-heartland-tri-state-bank-feb2024.pdf https://oig.federalreserve.gov/reports/board-material-loss-r...