On Friday, regulators shut down Silicon Valley Bank in the 2nd largest banking failure in U.S. history.
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Did SVB know the financial institution was on the verge of being seized by the Federal Deposit Insurance Corporation?
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Multiple sources reportedly said Silicon Valley Bank “paid out annual bonuses to eligible U.S. employees” hours before Friday’s takeover,” Axios reports.
What an interesting coincidence?
The bonuses were supposedly for work completed in 2022 and scheduled for March 10th, the day SVB collapsed.
NEW: Silicon Valley Bank paid out bonuses just hours before seizure https://t.co/X3DV8ES9Xh
— Dan Primack (@danprimack) March 11, 2023
*SILICON VALLEY BANK PAID OUT BONUSES AHEAD OF FDIC SEIZURE: AXIOS
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