1. The SEC has banned former Heartland Tri-State Bank CEO Shan Hanes from participating in the banking industry in the future. 2. Hanes was previously sentenced to 293 months in federal prison for his involvement in a $47 million cryptocurrency fraud case. 3. Court documents showed that Hanes executed 11 unauthorized wire transfers between May and July 2023, transferring $47.1 million in bank funds to a cryptocurrency wallet in connection with a pig-killing plate scam.
4. The scam eventually led to the collapse of Heartland Tri-State Bank.
