Former Heartland Tri-State Bank CEO sentenced to more than 24 years in prison for alleged $47 million cryptocurrency fraud
2024-08-25 22:17:11
Former Heartland Tri-State Bank CEO Shan Hanes has been sentenced to 293 months in federal prison for his alleged $47 million cryptocurrency scam. Court documents show that Hanes executed 11 unauthorized telegraphic transfers between May and July 2023 to transfer $47.1 million of the bank's funds into a cryptocurrency wallet as part of a scheme known as "pig slaughter" to lure unsuspecting investors into fraudulent digital asset investments. Special Agent in Charge Justin R. Bundy announced Hanes' sentencing for his involvement in a $47.1 million embezzlement scam that ultimately led to the collapse of Heartland Tri-State Bank.
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