We had a guy do that. Cost the company $300k (penalty) and they had to eat the cost of the rework (another $50k or so in labor, maybe more). He's not very popular right now as a result.
So to some extent the dev got unlucky, his terrible code (that he didn't test) may have been caught through the normal QA process which the QA willfully lied about doing. But that doesn't absolve him for not testing (even basic testing) his own work.