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.
Key Points
Okay, is anyone going to jail, or are they just going to walk away Scott free with everyone’s money?
There is a group for the victims trying to get their money back but don’t hold your breath waiting for justice.
I’ve seen that movie! Fun with Dick and Jane. Great movie!