{"id":135876,"date":"2024-08-20T17:30:46","date_gmt":"2024-08-20T14:30:46","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135876"},"modified":"2024-08-20T14:15:17","modified_gmt":"2024-08-20T11:15:17","slug":"former-bank-ceo-sentenced-to-24-years-for-crypto-fraud","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/","title":{"rendered":"Former Bank CEO Sentenced to 24 Years for Crypto Fraud"},"content":{"rendered":"<p>Hanes transferred $47.1 million from the bank into a cryptocurrency operation, which ultimately led to its failure. Despite the Federal Deposit Insurance Corporation (FDIC) covering the losses, Hanes now faces a prison sentence of nearly 24 years.<\/p>\n<p>Hanes <strong><a href=\"https:\/\/www.justice.gov\/usao-ks\/pr\/former-ceo-failed-bank-sentenced-prison\" target=\"_blank\" rel=\"nofollow\">admitted<\/a><\/strong> to embezzling funds between May and July 2023, executing 11 wire transfers that funneled $47.1 million into a crypto wallet.<\/p>\n<p>His fraudulent activity, known as a \u201cpig butchering\u201d scheme, resulted in a complete loss of the bank\u2019s equity, though the FDIC managed to recover the lost amount, investors ended up losing $9 million.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/indian-investor-arrested-in-bitconnect-kidnapping-case\/\" title=\"Indian Investor Arrested in BitConnect Kidnapping Case\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/2601-5d013765721d3-240x170.\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Indian Investor Arrested in BitConnect Kidnapping Case<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The Department of Justice criticized Hanes for betraying his role and undermining trust in financial institutions. Hanes has been sentenced to 293 months in prison, with a separate hearing scheduled to determine the financial penalties.<\/p>\n<p>FBI Special Agent Stephen Cyrus described Hanes\u2019 scheme as a classic case of \u201cpig butchering,\u201d emphasizing that Hanes\u2019 duty was to protect bank customers, not exploit them.<\/p>\n<p>Pig butchering scams have seen a resurgence, with the FBI\u2019s 2023 Internet Crime Report highlighting a 38% increase in investment fraud losses, totaling around $4 billion in crypto-related scams.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shan Hanes, the former CEO of Heartland Tri-State Bank (HTSB), has been implicated in a major fraud scheme involving cryptocurrency, resulting in the bank&#8217;s collapse.<\/p>\n","protected":false},"author":3,"featured_media":3102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-135876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Former Bank CEO Sentenced to 24 Years for Crypto Fraud<\/title>\n<meta name=\"description\" content=\"Shan Hanes, the former CEO of Heartland Tri-State Bank (HTSB), has been implicated in a major fraud scheme involving...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Former Bank CEO Sentenced to 24 Years for Crypto Fraud\" \/>\n<meta property=\"og:description\" content=\"Shan Hanes, the former CEO of Heartland Tri-State Bank (HTSB), has been implicated in a major fraud scheme involving...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoDnes EN\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-20T14:30:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/06\/20171004PHT85303_original-e1686053558979.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1618\" \/>\n\t<meta property=\"og:image:height\" content=\"946\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alexander Stefanov\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alexander Stefanov\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/\"},\"author\":{\"name\":\"Alexander Stefanov\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5\"},\"headline\":\"Former Bank CEO Sentenced to 24 Years for Crypto Fraud\",\"datePublished\":\"2024-08-20T14:30:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/\"},\"wordCount\":186,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/06\/20171004PHT85303_original-e1686053558979.jpeg\",\"articleSection\":[\"Crypto Crime\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#respond\"]}],\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/cryptodnes.bg\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/\",\"url\":\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/\",\"name\":\"Former Bank CEO Sentenced to 24 Years for Crypto Fraud\",\"isPartOf\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/06\/20171004PHT85303_original-e1686053558979.jpeg\",\"datePublished\":\"2024-08-20T14:30:46+00:00\",\"description\":\"Shan Hanes, the former CEO of Heartland Tri-State Bank (HTSB), has been implicated in a major fraud scheme involving...\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#primaryimage\",\"url\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/06\/20171004PHT85303_original-e1686053558979.jpeg\",\"contentUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/06\/20171004PHT85303_original-e1686053558979.jpeg\",\"width\":1618,\"height\":946},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptodnes.bg\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Former Bank CEO Sentenced to 24 Years for Crypto Fraud\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#website\",\"url\":\"https:\/\/cryptodnes.bg\/en\/\",\"name\":\"CryptoDnes EN\",\"description\":\"Crypto News, Bitcoin Analysis and More\",\"publisher\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/cryptodnes.bg\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#organization\",\"name\":\"CryptoDnes EN\",\"url\":\"https:\/\/cryptodnes.bg\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2025\/04\/logo.svg\",\"contentUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2025\/04\/logo.svg\",\"caption\":\"CryptoDnes EN\"},\"image\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5\",\"name\":\"Alexander Stefanov\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6dd8585c9881c74e639b0a3d0a889929?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6dd8585c9881c74e639b0a3d0a889929?s=96&d=mm&r=g\",\"caption\":\"Alexander Stefanov\"},\"url\":\"https:\/\/cryptodnes.bg\/en\/author\/alex100oo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Former Bank CEO Sentenced to 24 Years for Crypto Fraud","description":"Shan Hanes, the former CEO of Heartland Tri-State Bank (HTSB), has been implicated in a major fraud scheme involving...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/","og_locale":"en_US","og_type":"article","og_title":"Former Bank CEO Sentenced to 24 Years for Crypto Fraud","og_description":"Shan Hanes, the former CEO of Heartland Tri-State Bank (HTSB), has been implicated in a major fraud scheme involving...","og_url":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/","og_site_name":"CryptoDnes EN","article_published_time":"2024-08-20T14:30:46+00:00","og_image":[{"width":1618,"height":946,"url":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/06\/20171004PHT85303_original-e1686053558979.jpeg","type":"image\/jpeg"}],"author":"Alexander Stefanov","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Alexander Stefanov","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#article","isPartOf":{"@id":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/"},"author":{"name":"Alexander Stefanov","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5"},"headline":"Former Bank CEO Sentenced to 24 Years for Crypto Fraud","datePublished":"2024-08-20T14:30:46+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/"},"wordCount":186,"commentCount":0,"publisher":{"@id":"https:\/\/cryptodnes.bg\/en\/#organization"},"image":{"@id":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/06\/20171004PHT85303_original-e1686053558979.jpeg","articleSection":["Crypto Crime"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#respond"]}],"copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/cryptodnes.bg\/#organization"}},{"@type":"WebPage","@id":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/","url":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/","name":"Former Bank CEO Sentenced to 24 Years for Crypto Fraud","isPartOf":{"@id":"https:\/\/cryptodnes.bg\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#primaryimage"},"image":{"@id":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/06\/20171004PHT85303_original-e1686053558979.jpeg","datePublished":"2024-08-20T14:30:46+00:00","description":"Shan Hanes, the former CEO of Heartland Tri-State Bank (HTSB), has been implicated in a major fraud scheme involving...","breadcrumb":{"@id":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#primaryimage","url":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/06\/20171004PHT85303_original-e1686053558979.jpeg","contentUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/06\/20171004PHT85303_original-e1686053558979.jpeg","width":1618,"height":946},{"@type":"BreadcrumbList","@id":"https:\/\/cryptodnes.bg\/en\/former-bank-ceo-sentenced-to-24-years-for-crypto-fraud\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptodnes.bg\/en\/"},{"@type":"ListItem","position":2,"name":"Former Bank CEO Sentenced to 24 Years for Crypto Fraud"}]},{"@type":"WebSite","@id":"https:\/\/cryptodnes.bg\/en\/#website","url":"https:\/\/cryptodnes.bg\/en\/","name":"CryptoDnes EN","description":"Crypto News, Bitcoin Analysis and More","publisher":{"@id":"https:\/\/cryptodnes.bg\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cryptodnes.bg\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/cryptodnes.bg\/en\/#organization","name":"CryptoDnes EN","url":"https:\/\/cryptodnes.bg\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/logo\/image\/","url":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2025\/04\/logo.svg","contentUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2025\/04\/logo.svg","caption":"CryptoDnes EN"},"image":{"@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5","name":"Alexander Stefanov","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6dd8585c9881c74e639b0a3d0a889929?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6dd8585c9881c74e639b0a3d0a889929?s=96&d=mm&r=g","caption":"Alexander Stefanov"},"url":"https:\/\/cryptodnes.bg\/en\/author\/alex100oo\/"}]}},"modified_by":"Deyan Angelov","_links":{"self":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts\/135876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/comments?post=135876"}],"version-history":[{"count":1,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts\/135876\/revisions"}],"predecessor-version":[{"id":135877,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts\/135876\/revisions\/135877"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/media\/3102"}],"wp:attachment":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/media?parent=135876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/categories?post=135876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/tags?post=135876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}