Shan Hanes, former CEO of Heartland Tri-State Bank in Elkhart, Kansas, pleaded guilty to embezzling $47.1 million, leading to the bank's collapse. Hanes admitted to transferring the stolen funds to cryptocurrency accounts controlled by third parties while the bank was FDIC-insured. Facing up to 30 years in prison, Hanes was charged by the United States Department of Justice with embezzlement as a bank officer. U.S. Attorney Kate E. Brubacher condemned Hanes, calling him a liar who caused significant financial losses to investors.