{"id":16409,"date":"2024-08-26T19:11:27","date_gmt":"2024-08-26T16:11:27","guid":{"rendered":"https:\/\/forklog.com\/en\/former-heartland-tri-state-ceo-sentenced-for-embezzling-47-million-for-cryptocurrency-purchases\/"},"modified":"2024-08-26T19:11:27","modified_gmt":"2024-08-26T16:11:27","slug":"former-heartland-tri-state-ceo-sentenced-for-embezzling-47-million-for-cryptocurrency-purchases","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/former-heartland-tri-state-ceo-sentenced-for-embezzling-47-million-for-cryptocurrency-purchases\/","title":{"rendered":"Former Heartland Tri-State CEO Sentenced for Embezzling $47 Million for Cryptocurrency Purchases"},"content":{"rendered":"<p>In the United States, a court has sentenced former Heartland Tri-State bank CEO Shane Haines to 24 years and four months in prison for embezzling $47.1 million to invest in cryptocurrencies. This was <a href=\"https:\/\/www.justice.gov\/usao-ks\/pr\/former-ceo-failed-bank-sentenced-prison\">reported<\/a> by the Department of Justice.<\/p>\n<p>According to the department, from May to July 2023, the executive conducted 11 unauthorized transfers. In total, he directed $47.1 million of client funds to several cryptocurrency addresses belonging to unidentified third parties.<\/p>\n<p>This <a href=\"https:\/\/u1f987.com\/en\/news\/former-heartland-tri-state-bank-ceo-accused-of-embezzling-47-million-for-cryptocurrency-purchases\">led<\/a> to the bankruptcy of Heartland Tri-State. Haines pleaded guilty to one count of embezzlement by a bank employee.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;He violated his professional obligations, personal relationships, and federal law. Haines not only betrayed Heartland bank and its investors, his illegal schemes also undermined trust in financial institutions,&#8221; the statement said.<\/p>\n<\/blockquote>\n<p>Earlier in Hong Kong, an employee of a multinational company <a href=\"https:\/\/u1f987.com\/en\/news\/employee-duped-by-deepfake-colleagues-in-25-million-scam\">transferred $25 million to fraudsters<\/a> after a call with &#8220;colleagues.&#8221; The latter turned out to be deepfakes.<\/p>\n<p>In August, it was revealed that Canadian crypto platform ezBtc and its founder David Smillie misappropriated about 13 million <span data-descr=\"Canadian dollars\" class=\"old_tooltip\">CAD<\/span> (~$9.5 million) of client funds, using part for gambling.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the United States, a court has sentenced former Heartland Tri-State bank CEO Shane Haines to 24 years and four months in prison for embezzling $47.1 million to invest in cryptocurrencies. This was reported by the Department of Justice. According to the department, from May to July 2023, the executive conducted 11 unauthorized transfers. In [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,1246,26],"class_list":["post-16409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-scammers","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=16409"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/16408"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=16409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=16409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=16409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}