The former CEO of the failed Heartland Tri-State Bank has been sentenced to over 24 years in prison.
The U.S. Attorney’s Office in Wichita said that Shan Hanes was sentenced to 293 months in prison Monday after pleading guilty in May to one count of embezzlement by a bank officer.
Hanes had been accused of embezzling $47.1 million for personal cryptocurrency purchases, executing 10 wire transfers between May and July 2023.
The bank was seized by regulators in July 2023 and sold to Dream First Bank.
Hanes had faced up to 30 years in prison.