Shan Hanes, the former CEO of Heartland Tri-State Bank, was recently sentenced to 293 months in federal imprisonment for allegedly misappropriating $47 million worth of cryptocurrency funds. According to court documents, Hanes conducted 11 unauthorized wire transfers from the bank's funds into a cryptocurrency wallet between May and July 2023. This action was considered part of a 'pig butchering' scheme, which involved luring investors into fraudulent digital asset investments. The investigation and sentencing announcement were led by Special Agent Justin R. Bundy. This case ultimately led to the collapse of Heartland Tri-State Bank.