Odaily News The FBI has successfully recovered $8.3 million embezzled by a former Kansas bank CEO that was held in a cryptocurrency account in the Cayman Islands. In a Kansas federal court yesterday, 30 community bank shareholders broke out in sobs of relief when they learned they would get their investments back in full. In August, former Heartland Tri-State Bank of Kansas CEO Shan Hanes was sentenced to 24 years in prison for embezzling $47 million in customer funds and transferring them into cryptocurrency accounts operated by scammers. Prosecutors said Hanes also stole money from his church, investment clubs and his daughter's college fund, and lost $1.1 million of his own money in the scam. Hanes' bank was closed and sold by federal regulators because it ran out of money. Customers' $47.1 million in deposits are insured and paid out by the Federal Deposit Insurance Corporation (FDIC). However, the $8.3 million investment of 30 community bank shareholders was once thought to have been lost. Prosecutors said Hans fell into a "pig killing" scam, transferring $47.1 million in customer funds through 11 wire transfers in just eight weeks from the end of 2022 to the summer of 2023. (Fortune)