The Wall Street Journal reports that the Justice Department and SEC are investigating CEO Greg Beck and CFO Daniel Becker of Silicon Valley Bank, who sold millions in stock less than two weeks before the bank collapsed.
Executives at the collapsed Silicon Valley Bank may have more than customer problems to worry about: According to The Wall Street Journal, the Justice Department and the Securities and Exchange Commission are investigating the lender, which was taken over by federal regulators after sending the financial system into a brief moment of shock.
Justice Department investigators are said to be looking into the stock sales that some executives made in the final days before the bank run that on Friday destroyed the firm.
