Scammers Gonna Scam: Silicon Valley Bank Gave Employees Bonuses Just Before "Collapse" - Execs Sold Off Stocks Just Weeks Before
I’ve said it before and I’ll say it again, all of the lawlessness taking place in the united States and in the world where the US has its collective nose is due to lawless money from the Federal Reserve scam. The Bible doesn’t just say that the love of money is the root of all evil (1 Timothy 6:10) but also that unjust weights and measurements are an abomination before the LORD (Proverbs 20:23).
First, CNBC reports:
employees received their annual bonuses Friday just hours before regulators seized the failing bank, according to people with knowledge of the payments.
- How To Protect Yourself From 5G, EMF & RF Radiation
- Grab This Bucket Of Heirloom Seeds & Get Free Shipping With Promo Code TIM
- Build Your Own Food Forest & Save 5% With Promo Code TIMBROWN
- Here’s A Way You Can Stockpile Food For The Future
- Stockpile Your Ammo & Save $15 On Your First Order
- Preparing Also Means Detoxifying – Here’s One Simple Way To Detoxify
- Save Up To 66% Off MyPillow with Promo Code TIMBROWN
The Santa Clara, California-based bank has historically paid employee bonuses on the second Friday of March, said the people, who declined to be identified speaking about the awards. The payments were for work done in 2022 and had been in process days before the bank’s collapse, the sources said.
This year, bonus day happened to fall on SVB’s final day of independence. The institution, in the throes of a bank run triggered by panicked venture capital investors and startup founders, was seized by the Federal Deposit Insurance Corporation (FDIC) around midday Friday.
On Friday, SVB CEO Greg Becker addressed workers in a two-minute video in which he said that he no longer made decisions at the 40-year-old bank, according to the people.
The size of the payouts couldn’t be determined, but SVB bonuses range from about $12,000 for associates to $140,000 for managing directors, according to Glassdoor.com.
SVB was the highest-paying publicly traded bank in 2018, with employees getting an average of $250,683 for that year, according to Bloomberg.
After its seizure, the FDIC offered SVB employees 45 days of employment, the people said. The bank had 8,528 employees as of December.
A spokesman for the FDIC declined to comment on the bonuses.
Executives also sold off stocks just weeks prior to the alleged collapse.
Ex-CEO Greg Becker sold $3.57 million in company stock just two weeks before the bank collapsed in what is being described as a pre-planned automated sell-off. On February 27, he offloaded more than 12,000 shares at an average price of $287.42 each, while CFO Daniel Beck sold 2,000 shares; the price of the stock dropped to just under $30 on Friday.
As an FDIC-insured bank, only $250,000 per account at Silicon Valley Bank is guaranteed. However, the bank’s latest annual report shows that 96 percent of the $173 billion held there in deposits was uninsured.
The FDIC said that all insured depositors will be given access to their insured deposits, while uninsured depositors will receive an “advance dividend within the next week.”
In the meantime, the bank’s new government-appointed CEO, Tim Mayopoulos, has appealed to the bank’s high-powered startup and venture capital clients to bring their money back to the bank. He also said that he wasn’t sure what the bank’s “exact end state” would be but listed three possible outcomes: liquidation, sale or recapitalization.
Instead of looking to bail them out at taxpayer expense, the people require justice upon the heads of the executives because it seems clear they were engaged in insider trading by dumping their stocks and it looks like they are trying to milk it all to give bonuses as well.
Article posted with permission from Sons of Liberty Media
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).
The latest scam to force people into the new digital dollar slave system.
Fun fact Epstein was also heavily involved with this bunch of shills.