YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Shan Hanes, former CEO of Heartland Tri-State Bank in Kansas, has been sentenced to more than 24 years in prison for embezzling $47 million from the bank.
Hanes reportedly sent the funds to cryptocurrency wallets controlled by scammers. The banker had been duped in a "pig butchering" scheme that appealed to his greed, according to federal prosecutors. Hanes also took money from a local church, investment club and his daughter's college savings account, officials say.
The embezzlement led to the collapse and Federal Deposit Insurance Corp. takeover of Heartland.
Read more from CNBC.
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