The Federal Bureau of Investigation (FBI) has reclaimed more than $ 8 million in digital assets to repay shareholders of a bank who failed after the CEO director led millions of dollars in deposant money in a crypto control.
In 2023, Shan Hanes, the CEO of Heartland Tri-State Bank (HTSB) in Elkhart, sent Kansas, a total of $ 47.1 million of the Bank funds to a crypto scheme that turned out to be a flagrant diagonching.
The Ministry of Justice (DOJ) said That Hanes had fallen prey to ‘pig impact’, a schedule in which scammers build relationships with their targeted victims to lure them to make fraudulent investments.
The bank’s customers received their deposits back because the institution was insured via the Federal Deposit Insurance Corporation (FDIC).
About 30 local shareholders, however, lost a combined $ 8.2 million when their equity in a holding company that the bank had after the scandal explains, explains Special Agent Sage Hemmert, who led the FBI investigation to Tri-State.
“These were not Silicon Valley investors. These were ordinary people from southwestern Kansas. And many of them had tied their assets in this bank.”
Those shareholders are now ready to get the majority of their money back after the FBI has traced more than $ 8 million to the darkened crypto and seized one of the digital portfolios of the scammer.
Last August, Hanes was sentenced to 24 years in prison after he guilty of one census by a bank officer.
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