According to BlockBeats, on November 22, according to official news, the SEC will ban Shan Hanes, the former CEO of Heartland Tri-State Bank in Kansas, from participating in the banking industry in the future.
BlockBeats previously reported that Shan Hanes was sentenced to 293 months in federal prison for his involvement in a $47 million cryptocurrency fraud case. Court documents showed that Hanes executed 11 unauthorized wire transfers between May and July 2023, transferring $47.1 million in bank funds to a cryptocurrency wallet. The funds were related to a pig-killing scam. The scam eventually led to the collapse of Heartland Tri-State Bank.