Local US Bank Shut Down after CEO Lost Millions in Crypto Scam

Heartland Tri-State Bank, a community bank in Elkhart, Kansas, has been forced to shut down after its CEO, Shan Hanes, lost millions of dollars in a cryptocurrency scam. The incident unfolded on July 5 when Hanes, desperate to retrieve his money from a supposed cryptocurrency investment, approached one of his wealthy clients with a peculiar request, according to a recent report from Bloomberg. Per the report, the banker asked the client to lend him $12 million, promising to repay the loan with an additional $1 million in interest after just 10 days. Consequently, the Kansas Office of the State Bank Commissioner launched an investigation into the bank and declared it insolvent on July 28.

Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!

iOS: https://links.hashd.co/ios

Android: https://links.hashd.co/android