Foresight News reports that the FBI successfully recovered $8.3 million misappropriated by former Kansas bank CEO Shan Hane, which was held in a cryptocurrency account in the Cayman Islands.
In August this year, Shan Hane was sentenced to 24 years in prison for misappropriating $47 million of customer funds and transferring them to a cryptocurrency account operated by fraudsters. Prosecutors stated that Shan Hane's bank was closed and sold by federal regulators due to depletion of funds. The $47.1 million deposits from customers were insured and compensated by the Federal Deposit Insurance Corporation (FDIC).
