š° From bank executive to prisoner: Former Kansas CEO embezzled $47 million in cryptocurrency and spent 24 years in prison!
šļø Shan Hanes, a former Kansas bank executive, was sentenced to more than 24 years in federal prison for embezzling $47.1 million in a cryptocurrency fraud case and causing the collapse of Heartland Tri-State Bank (HTSB).
šµļøāāļø Court records show that between May and July 2023, Hanes illegally transferred $47.1 million from the bank to a cryptocurrency wallet through 11 unauthorized wire transfers. It is alleged that this was an elaborate "pig killing" that specifically lured investors who were unsuspecting of digital asset investments.
š„ The scam not only bankrupted HTSB, but also caused huge losses to the FDIC and investors lost $9 million. Now, a federal judge has ordered a hearing within 90 days to decide how to compensate the victims.
š U.S. Attorney Kate E. Brubacher commented on the case, saying that Hanes not only violated professional ethics and the law, but also undermined people's confidence in Heartland Bank and its investors.
š® FBI Special Agent in Charge Stephen Sellers also emphasized that Hanes betrayed the trust of the Elkhart community and used his position to embezzle, resulting in a scam that led to the bank's collapse. He should have protected the bank and customers instead of participating in fraud.
š¢ Korey Brinkman of the Federal Housing Finance Agency pointed out that Hanes seriously violated trust, caused huge losses to customers, and ultimately led to the bank's collapse.
šØ Agent Jon Ellwanger added that this sentence sends a clear signal that executives who undermine the stability of community banks will be severely punished by law.
āāļø He is proud of the cooperation with federal law enforcement to achieve this result and thanked the U.S. Attorney's Office for ensuring that Hanes is held accountable for his crimes.
š What do you think of this case? What suggestions do you have for strengthening supervision? Share your thoughts and opinions in the comments section!
#é¶č”ę¬ŗčÆ #å åÆ蓧åøéŖå± #ę³å¾å¶č£ #éčå®å Ø #ęčµč äæę¤
