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2 Comments
tldr; Shan Hanes, the former CEO of Kansas Heartland Tri-State Bank, has been sentenced to over 24 years in prison for embezzling over $47 million in bank funds into a crypto wallet involved in a pig butchering scheme, leading to the bank’s failure. Hanes’ actions resulted in a complete loss of equity for investors and the bank’s closure, with investors losing a total of $9 million. The scheme involved long-term financial fraud, manipulating victims into investing in fake schemes through cryptocurrency. Hanes pleaded guilty to one count of embezzlement by a bank officer.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
24 years for 25 million. SBF will jump to the ceiling when he reads this.