# Cryptocurrency scam exposed again! 💼

Shan Hanes, the former CEO of a Kansas bank, was sentenced to 24 years in prison for embezzling $47.1 million to participate in a cryptocurrency scam. Hanes made 11 wire transfers between May and July 2023, transferring funds to crypto wallets, which led to the collapse of Heartland Tri-State Bank and investors lost $9 million. The FDIC borne all the losses. The case is jointly investigated by the FBI and other agencies, and a compensation hearing will be held in the next 90 days.

What do you think of this financial fraud? Feel free to share your views in the comment section!