Executives and directors at the recently failed Signature Bank allegedly sold more than $100 million in stock during the crypto boom.
Senior bank insiders have been accused of participating in this scheme for three years leading up to the bank’s collapse in early March, according an analysis by The Wall Street Journal.
Signature Bank collapsed on March 12 and was taken over by federal regulators, two days after Silicon Valley Bank collapsed.
The failures of Silicon Valley Bank and Signature Bank were the second and third largest bank failures in U.S. history.
New York Community Bancorp’s Flagstar Bank agreed to assume all of Signature Bank’s cash deposits toward the end of March….