CNBC spoke to a dozen customers caught in the Synapse fintech predicament, people who are owed sums ranging from $7,000 to well over $200,000.

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.
  • treadful@lemmy.zipEnglish
    61·
    4 hours ago

    Curious why law enforcement wouldn’t be involved in this. Sure smells like a Madoff like thing in the background.

    • kent_eh@lemmy.caEnglish
      2·
      1 hour ago

      Seems like the sort of thing the SEC might investigate.

      Who knows what investigations are going on. They don’t always put out a press release at the start of every investigation.

      • treadful@lemmy.zipEnglish
        1·
        17 minutes ago

        Maybe. But you’d think the reporter might ask some of the relevant agencies. Or the victims they interviewed might mention it.