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Ex-CEO of Kansas Bank, Shan Hanes bags over 24 years in jail for $47 million crypto fraud 

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A former Chief Executive Officer of a Kansas-based bank has been sentenced to over 24 years in prison following a $47 million crypto fraud that crippled the bank. 

Shan Hanes the former CEO of the now-defunct Heartland Tri-State Bank has been sentenced to 293 months in prison after court discovered that he embezzled millions of dollars leading to his bank’s collapse. 

In an Aug 19 press release, The US attorney in Kansas said that Hanes who pleaded guilty to the offense orchestrated a Pig butchering scheme that saw him carry out over a dozen wire transfers totaling more than $47 million from Heartland Tri-State Bank to a crypto wallet between May and July 2023. 

The US attorney on the case bemoaned Hanes’s unprofessional conduct while lamenting the betrayal of customer trust portrayed by Hanes with his actions. 

“Hanes’ greed knew no bounds. He trespassed on his professional obligations, his personal relationships, and federal law. Not only did Shan Hanes betray Heartland Bank and its investors, but his illegal schemes also jeopardized confidence in financial institutions,” 

Today’s sentence is a measure of justice for the victims, and a statement that the U.S. Department of Justice will hold those accountable who violate positions of trust for their own gain.” said U.S. Attorney Kate E. Brubacher. 

The Special Agent in charge of the FBI Kansas City Field Office reacted to the court sentencing stressing Hanes illicit activity was his idea of a get-rich-quick scheme which ultimately led to the collapse of his bank. 

“Mr. Hanes, as the CEO of Heartland Tri-State Bank, held the trust and confidence of the community of Elkhart, KS, but he violated that trust. He attempted to benefit financially by embezzling funds from the bank. His idea to get rich quickly, in all reality, was a pig butchering scheme. His involvement in this scheme ultimately led to the bank’s collapse. His job, the bank’s job was to protect its customers and identify fraudulent scams — not to participate in them,” said Special Agent in Charge Stephen Cyrus of the FBI Kansas City Field Office. 

The Heartland Tri-State Bank was insured by the Federal Deposit Insurance Corporation. They absorbed the $47.1 million loss caused by Hanes ‘pig Butchering scheme. 

The illicit activity led to the collapse of the bank and also cost its investors $9 million. 

Crime

Thieves cart away cows meant for church harvest celebration

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Suspected thieves have carted away two cows from the premises of the Celestial Church of Christ (CCC) Testimony Parish in the Egbeda area of Oyo state.

In a post published on its Facebook page, the church said the stolen cows, bought at N1.9 million, were meant for its annual adult harvest thanksgiving celebration.

The incident happened on November 11 as the church prepared for the celebration slated for November 17.

After days of searching for the missing cows, the church solicited for financial contributions to buy new cows for the harvest celebration.

“Dear Celestians and The General public, This 2 Huge Cows was stolen where it was Tied in The Church Premises at CCC Testimony parish Elerumoke Area, Egbeda, Iyana Ajia and its meant for slaughter for the 9th adult harvest thanksgiving of the church coming up this Sunday 17th November 2024,” the church wrote on Facebook.

“We hereby solicit for your prayer for quick recovery of this harvest thanksgiving sacrificial materials.

“Anybody with useful information on how to recover these cows or any means of assistance to make the harvest thanksgiving a beautiful one should contact the parish shepherd.”

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Crime

NDLEA arrests businessman for smuggling cocaine through ingestion

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The National Drug Law Enforcement Agency has announced the arrest of a businessman caught with a large quantity of cocaine.

Femi Babafemi, the Director of Media and Advocacy, revealed the arrest on Sunday via his X account, accompanied by a video displaying the seized contraband.

The businessman, whose identity has not been disclosed, reportedly ingested a substantial quantity of cocaine in an attempt to avoid detection.

Babafemi wrote, “Detty December: Before you swallow those drugs, please remember that the new @ndlea_nigeria has the capacity and capability to catch you.

“The businessman who excreted this amount of cocaine will not only spend Christmas behind bars but also risks a life sentence at the end of his trial. Beware!”

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Crime

UK teenager risks 20 years in Dubai prison for sex with 17-year-old girl

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An 18-year-old British boy has been arrested for allegedly having sex with a 17-year-old girl in Dubai.

Detained in Dubai, a group of UAE legal experts, said the teenager was on holiday with his parents when he met the girl — who is now 18 — at the same hotel.

The teenagers who are both from London were said to have made plans to continue their romance when they returned to the UK.

The group, which campaigns to help people it says have suffered injustice in the UAE, said the young man was charged because the girl’s mother found their chats and pictures back in the UK.

It was gathered that the woman subsequently contacted police in Dubai and he was arrested.

The boy however claimed he was unaware that the girl was younger than him when they met. The teenager also disclosed that he was in police custody for three days and was unable to contact his parents.

“We had a wonderful time together. We really liked each other but she was secretive with her family because they were strict,” he told Detained in Dubai.

“My parents knew about our relationship but she couldn’t tell hers. She had to meet me without telling them it was to see a boy.

“When she left, I couldn’t wait to see her again when I got home. Then suddenly, police knocked on our hotel door. They said they were taking me in for questioning but wouldn’t tell me why. I was frightened and my parents were terrified.”

The teenager, it is understood, could face up to two decades in prison owing to Dubai’s strict laws regarding sex outside marriage.

Radha Stirling, chief executive of the campaign group, said Dubai recently legalised out-of-wedlock sex for tourists but “still hosts a strict Islamic legal system”.

“Sex outside marriage is legal for tourists but only if both parties are over 18. The girl was just a few months younger than Marcus and he didn’t know that at the time,” Stirling said.

“Since his arrest, she has turned 18. This is not something Dubai should be prosecuting.

“Parents will be scared to take their older teenagers on vacation with them where they could end up losing their lives over behaviour that’s completely legal in their own countries.”

The teenager and his family have called on foreign secretary David Lammy, their local MP, to intervene in the case.

The teenager is no longer being held in a police cell but is unable to leave the country, with his family facing bills of £2,000 for Airbnb accommodation until his case is resolved.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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