Corporations get charged with criminal conduct from time to time. But seldom does the CEO at the time also get charged.
“Barclays Hit With Fraud Charges,” The Wall Street Journal, June 21, 2017 B1. Charges of fraud and illegal payments filed against the bank and its former CEO (and a few other executives) in the UK.
As usual, the shareholders get the bill for any fines (and any diminution in share value). Curiously absent were any charges against the directors of the Bank’s Board at the time. But maybe the failure of the Board to detect this level of criminal activity will result in civil suits against the directors for negligent supervision.
Maybe Shearman & Stirling can write another report. (See Wells Fargo posts, supra). Willie Sutton wasn’t the only crook who knew where the money is/was.