Comment on Ex-bank CEO gets 24 years after falling for crypto scam, causing bank collapse

Ex-bank CEO gets 24 years after falling for crypto scam, causing bank collapse

Enlarge (credit: nadia_bormotova | iStock / Getty Images Plus) A federal judge sentenced a 53-year-old Kansas man to more than 24 years in prison after the former bank CEO abused his trusted position to embezzle $47 million after falling for a cryptocurrency scam that he believed would make him wildly rich. In a press release, the US Attorney's Office said that Shan Hanes was driven by "greed" when directing bank employees to transfer millions in funds to a sketchy crypto wallet managed by still-unknown third parties behind the so-called "pig butchering" scheme. Hanes was first targeted by scammers in late 2022, apparently when he got a message from an unidentified co-conspirator on WhatsApp, prosecutors said.

 

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