KEY POINTS
- Thousands of Americans will receive little or nothing from savings accounts that were locked during the collapse of fintech middleman Synapse.
- Customers believed the accounts were backed by the full faith and credit of the U.S. government.
- CNBC spoke to a dozen customers caught in the predicament, people who have lost sums ranging from $7,000 to well over $200,000.
- While there’s not yet a full tally of those left shortchanged, at fintech Yotta alone, 13,725 customers say they are being offered a combined $11.8 million despite putting in $64.9 million in deposits.
Yeah, both were really spending other people’s money that they got through fraud and such.
Some people say there is no way to be an ethical billionaire
I think it’s fair to say if there is a way, it’s a corner case. Like maybe one of Elon’s many kids turns out okay and ends up inheriting a few billion.
Unlike the saturday morning cartoons from when I grew up… evil pays.