News with the tag "Shan Hanes"

The former CEO of failed Heartland Tri-State Bank was sentenced to over 24 years in prison for embezzling more than $47 million in a fraudulent crypto scheme that caused the bank’s collapse. He funneled the stolen funds into cryptocurrency wallets linked to a “pig butchering” scam, leading to a $9 m...

Shan Hanes, the former CEO of Heartland Tri-State Bank (HTSB), has been implicated in a major fraud scheme involving crypto, resulting in the bank’s collapse. Hanes transferred $47.1 million from the bank into a cryptocurrency operation, which ultimately led to its failure. Despite the Federal Depos...

Cryptocurrency development has brought billions of people into trading. However, it has also brought thousands of cases of crypto fraud because of lacking crypto regulations. And this is what this former Kansas Bank CEO has done. However, the jurisdiction arrived into the picture on time, sentencing...

Former Heartland Tri-State Bank CEO Shan Hanes pleaded guilty on Thursday to embezzling $47.1 million for personal cryptocurrency purchases, leading to the bank’s collapse. From May to July 2023, Hanes executed at least 10 wire transfers from the Elkhart-based bank to cryptocurrency accounts. The ba...