Bank manager steals $47 million in cryptocurrency scam – Youm7

A Kansas man was sentenced to 24 years in prison after pocketing $47.1 million in a scam using money from the bank he was in charge of.

Shan Hans, the former CEO of the small Tri-State Bank of Heartland, pleaded guilty to involvement in sending money into encrypted accounts of fraudsters, which led to the collapse of the bank.

According to what was reported by NBC News, Hans fell into the trap of a pig killing scam By buying cryptocurrencies “To redeem the return he is entitled to on his investments,” which he never received.

In recent years, pig slaughter scams have become increasingly common, with a recent study showing that victims have lost more than $75 billion due to this scam worldwide. of the world, Google even filed a lawsuit against two scammers who were accused earlier this year of dozens of… Apps on Play Store to implement their plans.

Pig-killing scams usually involve the scammer finding and contacting the victim via a messaging app, dating service or social media platform, then attempting an often romantic relationship. created by their victim before leading them into a series of… Crypto investments.

From May to June 2023, Hans made 11 wire transfers using money stolen from the bank, and also deposited money from a local church, investment club, and his daughter’s college savings account, which was Heartland Tri-State Bank, which was insured by The Federal Deposit Insurance Corporation, is one of five banks to close in 2023.

“Hans’ greed knew no bounds and violated his professional obligations, his personal relationships, and federal law,” U.S. Attorney Kate E. Brubacher said in a statement “Not only did Shan Hans betray Heartland Bank and its investors, but it was illegal schemes also jeopardized trust in financial institutions.”