Summary:
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Long Prison Sentence
Shan Hanes, ex-CEO of Heartland Tri-State Bank, was sentenced to 24 years in prison for embezzling $47 million, which he lost to a “pig butchering” crypto scam. -
Bank Collapse
The embezzlement led to the bank’s failure and FDIC takeover in 2023. Hanes stole funds from various sources, including local institutions and his daughter’s college savings. -
Scam Details
Hanes was tricked by scammers posing as cryptocurrency investors. Despite multiple wire transfers and investments, he never saw any returns and lost all the money he stole.
Read more at: NBC News
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