FBI recovers $8.3 million embezzled by former Kansas bank CEO from crypto account in Cayman Islands
On November 5th, it was reported by Fortune that the Federal Bureau of Investigation (FBI) successfully recovered $8.3 million that was embezzled by the former CEO of a Kansas bank. The funds were stored in an encrypted cryptocurrency account in the Cayman Islands. Yesterday, in a federal court in Kansas, 30 community bank shareholders were relieved to learn that they would receive their full investment back, and they erupted into tears of relief.
In August, it was reported that Shan Hanes, the former CEO of Heartland Tri-State Bank, a small bank in Kansas, had embezzled tens of millions of dollars through a cryptocurrency Ponzi scheme, causing the bank to go bankrupt. He was sentenced to over 24 years in prison.
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