The former Chief Executive Officer (CEO) of Heartland Tri-State Bank, which was a failed bank based in Kansas; has pled guilty on the 23rd of May 2024, for stealing about $47.1 million, for his own personal cryptocurrency acquisitions.
The United States Attorney's Office for the District of Kansas, stated that this cryptocurrency theft by the former CEO, was the reason for the failure of the bank in 2023; and the total loss of equity for their investors.
Shan Hanes, who was the former CEO of Heartland Tri-State Bank, arranged cryptocurrency schemes to hide the losses of the bank. While he was embezzling lots of millions of dollars in his personal acquisition of cryptocurrency.
Currently the Federal Housing Finance Agency, the FBI, the Federal Reserve Board, and the Federal Deposit Insurance Corporation are making inquires into this case of cryptocurrency theft. Shan will be facing sentencing on the 8th of August 2024, and would collect a 30 years imprisonment at the maximum.
I just hope he is showed mercy
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