The former executive director of Heartland Tri-State Bank has been charged with embezzlement of customer funds. A top manager used the stolen money to invest in cryptocurrency, according to US law enforcement officials.
Shane Haynes transferred $47.1 million to crypto assets. Documents from the federal court of Kansas do not make it clear what kind of assets they are talking about, but it is said that the former executive director is involved in other financial fraud.
Since 2022, the defendant has invested in digital currencies not only the funds of Heartland Tri-State Bank customers, but also the money of the Kansas Christian Church. The court documents allege that the defendant applied for a $12 million loan to businessman Brian Mitchell. Sean Hayes asked for a loan to withdraw funds from his investment in cryptocurrency, promising to return it in ten days, offered interest on $1 million. But he didn't fulfill his promise.
Due to the financial operations of the executive director of Heartland, Tri-State Bank was forced to announce its closure. The Federal Deposit Insurance Corporation (FDIC) has returned funds to the bank's affected customers.
Earlier, the US Commodity Futures Trading Commission (CFTC) announced that the number of fraudulent projects pretending to be neural networks and using artificial intelligence to steal cryptocurrencies has increased in the financial market.
Shane Haynes transferred $47.1 million to crypto assets. Documents from the federal court of Kansas do not make it clear what kind of assets they are talking about, but it is said that the former executive director is involved in other financial fraud.
Since 2022, the defendant has invested in digital currencies not only the funds of Heartland Tri-State Bank customers, but also the money of the Kansas Christian Church. The court documents allege that the defendant applied for a $12 million loan to businessman Brian Mitchell. Sean Hayes asked for a loan to withdraw funds from his investment in cryptocurrency, promising to return it in ten days, offered interest on $1 million. But he didn't fulfill his promise.
Due to the financial operations of the executive director of Heartland, Tri-State Bank was forced to announce its closure. The Federal Deposit Insurance Corporation (FDIC) has returned funds to the bank's affected customers.
Earlier, the US Commodity Futures Trading Commission (CFTC) announced that the number of fraudulent projects pretending to be neural networks and using artificial intelligence to steal cryptocurrencies has increased in the financial market.
