Former Heartland Tri-State Bank CEO Sentenced to More Than 24 Years in Prison for $47 Million Cryptocurrency Scam

BlockBeats news, on August 26, former Heartland Tri-State Bank CEO Shan Hanes was sentenced to 293 months in federal prison for his involvement in a $47 million cryptocurrency fraud. Court documents show that Hanes executed 11 unauthorized wire transfers between May and July 2023, transferring $47.1 million of the bank's funds to a cryptocurrency wallet. The funds were related to a pig-killing scam. The scam eventually led to the collapse of Heartland Tri-State Bank.