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About two weeks later, on July 28, 2023, Heartland Tri-State was closed by the Kansas Office of the State Bank Commissioner was taken over by the Federal Deposit Insurance Corp.
The former CEO of Heartland Tri-State Bank in Elkhart pleaded guilty to embezzling $47 million in bank funds to funnel into a cryptocurrency scam.. Shan Hanes, the former bank executive, could be ...
The U.S. attorney in Kansas says Shan Hanes, the bank’s CEO at the time, transferred approximately $47.1 million from the bank to make cryptocurrency purchases between May 30, 2023, and July 7 ...
The 2023 failure of Heartland Tri-State Bank in Elkhart, Kansas, United States, was directly tied to a pig-butchering scam; CEO Shan Hanes was discovered to have embezzled $47 million from the bank in an attempt to secure his presumed funds. Hanes was charged in federal court with embezzlement in February 2024 and pleaded guilty in May 2024.
Heartland Payment Systems, Inc. is a U.S.-based payment processing and technology provider. Founded in 1997, Heartland Payment Systems' last headquarters were in Princeton, New Jersey. [2] The company was acquired by Global Payments for $4.3 billion in 2016. [3] [4]
The former CEO of a southwestern Kansas bank who embezzled $47 million in a cryptocurrency scheme has been sentenced to 24 years in prison. Shan Hanes, 53, former CEO of Heartland Tri-State Bank ...
The bank was established on July 3, 1935. [1] [3] In 1988, the bank acquired Fireside Credit after it filed for bankruptcy protection. [4] In 1989, the bank acquired Key City Bank. [5] In 1991, the bank acquired Farley State Bank. [6] In 2004, Douglas J. Horstmann was named president and chief executive officer of the bank. Horstmann retired in ...
In 2023, for example, Heartland Tri-State Bank in Elkhart, Kansas failed, resulting in the bank’s chief executive officer receiving more than 24 years in prison for embezzling millions of ...