Close Menu
Technology Mag

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    A lofi journaling kit for the digital age

    May 14, 2025

    Top HP Coupon Codes for May

    May 14, 2025

    Republicans push for a decadelong ban on states regulating AI

    May 14, 2025
    Facebook X (Twitter) Instagram
    Subscribe
    Technology Mag
    Facebook X (Twitter) Instagram YouTube
    • Home
    • News
    • Business
    • Games
    • Gear
    • Reviews
    • Science
    • Security
    • Trending
    • Press Release
    Technology Mag
    Home » A bank exec stole $47 million for a crypto scam, and now he’s going to jail
    News

    A bank exec stole $47 million for a crypto scam, and now he’s going to jail

    News RoomBy News RoomAugust 23, 20242 Mins Read
    Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Email

    A Kansas man was sentenced to 24 years in prison after pouring $47.1 million into a pig butchering scam — using money from the bank he was in charge of. Shan Hanes, the former CEO of the small Heartland Tri-State Bank, pleaded guilty to embezzlement after routing the funds to scammers’ crypto accounts, causing the bank to collapse.

    As reported by NBC News, Hanes fell for a pig butchering scam that had him purchasing crypto “to unlock the supposed returns on his investments,” which he never received.

    Pig butchering scams typically involve a scammer finding and contacting a victim through a messaging app, a dating service, or a social media platform. They’ll then try to form a relationship — often a romantic one — with their victim before eventually luring them into making a series of crypto investments.

    From May to June 2023, Hanes set up 11 wire transfers using the bank’s stolen funds. He also embezzled money from a local church, an investment club, and his daughter’s college savings account. The Heartland Tri-State Bank, which was insured by the FDIC at the time, was one of the five banks to close in 2023.

    “Hanes’ greed knew no bounds,” US Attorney Kate E. Brubacher says in a statement. “He trespassed his professional obligations, his personal relationships, and federal law. Not only did Shan Hanes betray Heartland Bank and its investors, but his illegal schemes also jeopardized confidence in financial institutions.”

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email
    Previous ArticleValve officially announces Deadlock, a game ‘in early development’
    Next Article Microsoft to host CrowdStrike and others to discuss Windows security changes

    Related Posts

    A lofi journaling kit for the digital age

    May 14, 2025

    Republicans push for a decadelong ban on states regulating AI

    May 14, 2025

    Paul McCartney and Dua Lipa call on the UK to pass AI copyright transparency law

    May 13, 2025

    Apple TV’s wireless audio sync now works with Dolby Atmos

    May 13, 2025

    Meta’s beef with the press flares at its antitrust trial

    May 13, 2025

    Elon Musk’s apparent power play at the Copyright Office completely backfired

    May 13, 2025
    Our Picks

    Top HP Coupon Codes for May

    May 14, 2025

    Republicans push for a decadelong ban on states regulating AI

    May 14, 2025

    Paul McCartney and Dua Lipa call on the UK to pass AI copyright transparency law

    May 13, 2025

    Apple TV’s wireless audio sync now works with Dolby Atmos

    May 13, 2025
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Don't Miss
    News

    Meta’s beef with the press flares at its antitrust trial

    By News RoomMay 13, 2025

    Long-simmering tension between Silicon Valley and the press that covers it is surfacing during the…

    Elon Musk’s apparent power play at the Copyright Office completely backfired

    May 13, 2025

    DJI said Mavic 4 Pro wouldn’t launch in US but these stores are selling it anyhow

    May 13, 2025

    Judge slams lawyers for ‘bogus AI-generated research’

    May 13, 2025
    Facebook X (Twitter) Instagram Pinterest
    • Privacy Policy
    • Terms of use
    • Advertise
    • Contact
    © 2025 Technology Mag. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.