![](https://i0.wp.com/static.news.bitcoin.com/wp-content/uploads/2024/05/16_news_bytes-1024x576-1-768x432.jpg?resize=640%2C360&ssl=1)
Former Heartland Tri-State Bank CEO Shan Hanes pleaded guilty on Thursday to embezzling $47.1 million for personal cryptocurrency purchases, leading to the bank’s collapse. From May to July 2023, Hanes executed at least 10 wire transfers from the Elkhart-based bank to cryptocurrency accounts. The bank’s failure resulted in a total loss of equity for investors. […]