March 16, 2023 | 19:49
The former CEO of Silicon Valley Bank, who was at the helm of Financial Intuition when it collapsed, was spotted strolling in Hawaii on Wednesday — as his former colleagues struggle to pick up the pieces.
Greg Becker and wife Marilyn Bautista fled to their $3.1 million Maui townhouse just days after Becker, CEO of SVB since 2011, left the company, photos obtained by the Daily Mail show.
Despite his change in employment status, Becker seemed unconcerned about cash as the couple enjoyed a chauffeur-driven limousine ride to San Francisco Airport on Monday and first-class tickets to their island paradise, the outlet reported.
The former boss wore shorts and flip-flops on a stroll through Lahaina, where his custom-designed two-story home sits in a gated community equipped with a tennis court, three surf breaks, three swimming pools and a clubhouse.
Becker hid in the car at one point while Bautista picked up their lunch from Cheeseburger in Paradise.
Becker has come under intense criticism for the way he handled the bank’s demise, and is even under investigation by the Justice Department for selling shares just before SVB went under.
Follow The Post’s coverage of Silicon Valley Bank’s collapse
The former CEO cashed in 12,500 shares for nearly $3.5 million just two weeks before the company went under.
He and CFO Daniel Beck are also being sued by SVB shareholders for allegedly hiding the fact that rising interest rates made the firm “particularly susceptible” to a bank run.
SVB’s collapse last week sent widespread panic that other banks might follow suit.
On Thursday, Goldman Sachs raised its probability of the US economy entering a recession in the next 12 months by 10 percentage points to 35%, citing stress on small banks.
However, Treasury Secretary Janet Yellen assured lawmakers that the US banking system is in a stable state.
“I can assure the members of the committee that our banking system remains healthy and that Americans can feel confident that their deposits will be there when they need them,” Yellen said Thursday.