(02-03-2024, 11:34 PM)p_rushing Wrote:

(02-03-2024, 09:32 AM)The Real Marty Wrote: What Happens When a Stockbroker Goes Bust? (investopedia.com)

If a big one fails, you wouldn't get shares back. Insurance most likely doesn't cover it because they don't have enough money. Shares should be there but for them to fail, something bad would have to be going on so they probably don't have enough shares. At best you end up with cash value at the point of failure.

Sent from my SM-T970 using Tapatalk

This is very different than that.  It is the same as a payroll clerk embezzling.

What Is a Fidelity Bond?

A fidelity bond is a form of business insurance that offers an employer protection against losses that are caused by its employees’ fraudulent or dishonest actions. Also known as an honesty bond, this form of insurance can protect against monetary or physical losses
 
I would be very surprised if the Jags don't have this basic business insurance. Now there is a deductible.  I unfortunately had experience with this.  Prosecuted, person went to jail (3 to 5) and was required upon release or parole to repay the deductible or serve a bunch more time. That is why my advice to FanDuel was to come to agreement with the Jags privately and not make an enemy of an NFL owner.

---