04-28-2023, 10:52 AM
It is a terrible experience to be ripped off for any amount in this way but I'm not sure how many people on $600k per year would have their 'life savings' in a bank account. Surely he has a financial advisor who has diversified his earnings into different investment areas and money 'in a bank account' would be a workable amount. Also daily limits would generally be around $10k, so over 6 days is around $60k. I'm not saying that such a loss is not significant and would keep you awake at night but I think the collateral damage might be less than people think.