Thanks for your update on this story. It's great to see Ms. Szymoniak get compensated for uncovering a massive fraud, however, it seems that you covered only a small part of the story. Why was this bank allowed to settle for less than $100 million? What will the government do with the settlement? Why isn't anyone going to jail?
Banks foreclosing on homes is certainly about money, but it's also about livelihoods. My sense is that most people affected by this unethical fraud do not have law degrees or the skills that Ms. Szymoniak holds. It would be helpful to get a more comprehensive understanding of the legal issues involved (e.g., is it possible to arrest any bankers for absolute fraud?) as well as the wake of human impacts (e.g., did the fraud ruin any marriages or professional lives)?
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Thanks for your update on this story. It's great to see Ms. Szymoniak get compensated for uncovering a massive fraud, however, it seems that you covered only a small part of the story. Why was this bank allowed to settle for less than $100 million? What will the government do with the settlement? Why isn't anyone going to jail?
Banks foreclosing on homes is certainly about money, but it's also about livelihoods. My sense is that most people affected by this unethical fraud do not have law degrees or the skills that Ms. Szymoniak holds. It would be helpful to get a more comprehensive understanding of the legal issues involved (e.g., is it possible to arrest any bankers for absolute fraud?) as well as the wake of human impacts (e.g., did the fraud ruin any marriages or professional lives)?
Thanks,
- TJ