November 21, 2024
Federal Reserve Board issues enforcement action with former chief executive officer of Heartland Tri-State Bank
For release at 11:00 a.m. EST
The Federal Reserve Board on Thursday announced that it had prohibited Shan Hanes from future participation in the banking industry. Hanes is the former chief executive officer of Heartland Tri-State Bank and used his position to embezzle $47.1 million of bank funds in a cryptocurrency scheme that led to the bank becoming insolvent and failing in July 2023.
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