Former Heartland Tri-State Bank CEO sentenced to over 24 years in prison for alleged $47 million cryptocurrency fraud case

ChainCatcher news: Former Heartland Tri-State Bank CEO Shan Hanes has been sentenced to 293 months in federal prison for allegedly committing a $47 million cryptocurrency fraud scheme. Court documents show that Hanes executed 11 unauthorized wire transfers between May and July 2023, transferring $47.1 million of the bank's funds into a cryptocurrency wallet, which was related to a pig butchering scam. This scheme ultimately led to the collapse of Heartland Tri-State Bank.