crypto embezzlement

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A courtroom scene with a gavel, scales of justice, and digital cryptocurrency symbols like Bitcoin and Ethereum. A somber, serious tone reflecting the gravity of financial crimes and their broader implications for the crypto sector.

US Tri-State Bank CEO Pleads Guilty to $43M Crypto Scam

The US Attorney's Office in Kansas noted that Shan Hanes, 52, orchestrated crypto schemes to cover the bank's losses.

The former head of Kansas-based Heartland Tri-State Bank has pled guilty to embezzling $47.1 million for personal crypto purchases. This led to the bank's failure in July 2023, resulting in a complete loss of equity for investors.

May 24, 2024 08:55 AM

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