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Former Rural Bank CEO Gets 24-Year-Plus Prison Sentence for Embezzling $47 Million in Crypto Scheme

The embezzlement led to the bank to fail and loss of equity for investors
Former Rural Bank CEO Gets 24-Year-Plus Prison Sentence for Embezzling $47 Million in Crypto Scheme
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Mary Lou Lang
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A former CEO of a rural Kansas bank, who admitted embezzling tens of millions of dollars as part of a cryptocurrency scheme, was sentenced on Aug. 19 to nearly 25 years in federal prison, according to the Department of Justice (DOJ).
Shan Hanes, 53, of Elkhart, Kansas, was sentenced to 293 months in prison after pleading guilty to one count of embezzlement by a bank officer.
Mary Lou Lang
Mary Lou Lang
Author
Mary Lou Lang is a freelance journalist and was a frequent contributor to Just The News, the Washington Free Beacon, and the Daily Caller. She also wrote for several local newspapers. Prior to freelancing, she worked in several editorial positions in finance, insurance and economic development magazines.