Just offhand it would seem Ball is just not super competent
Fraud often takes years to pick up, being an insider may not help much in detecting fraud.
After having smelt blood in the water and having already got much of the evidence,prosecutors would have found it easy to get Ball if there was any case against him.
Nevertheless BOFI hiring him would seem to be pretty boneheaded, and does not reflect well on management.
It seems to me the stock market works on expectations and present bear stories are not easy to prove or disprove , so the effect could hang around for long time. Even rising earning might not be enough.
Being a bank a blow out success like finding a cure for some dread disease is highly unlikely.
I still have a few shares, but probably should have sold them. Because I think it will take over a year for BOFI stock to go up even if the news is good. And the news may not be good…