According to BlockBeats, on August 26, former Heartland Tri-State Bank CEO Shan Hanes was sentenced to 293 months in federal prison for his involvement in a $47 million cryptocurrency fraud scheme. Court documents reveal that between May and July 2023, Hanes executed 11 unauthorized wire transfers, moving $47.1 million of the bank's funds into a cryptocurrency wallet. This fraudulent activity was linked to a 'pig butchering' scam, which ultimately led to the collapse of Heartland Tri-State Bank.