By Trish Svoboda

The U.S. Attorney’s Office for the District of Kansas has formally accused a Kansas resident of embezzling millions of dollars from his former employer through an information, which serves as a criminal charge without a grand jury indictment.

Shan Hanes, 52, from Elkhart, faces one count of bank embezzlement according to court records.

Hanes, previously the chief executive officer of Heartland Tri-State in Elkhart, allegedly diverted approximately $47.1 million for personal gain by executing multiple wire transfers to purchase cryptocurrency between May 2023 and July 2023.

Scheduled for an initial court appearance before U.S. Magistrate Judge Gwynne E. Birzer of the U.S. District Court for the District of Kansas on February 28, 2024, Hanes could potentially face up to 30 years in prison if found guilty.

The Federal Bureau of Investigation (FBI), Federal Deposit Insurance Corporation – Office of Inspector General (FDIC-OIG), Federal Reserve Board – Office of Inspector General (FRB-OIG), and Federal Housing Finance Agency – Office of Inspector General (FHFA-OIG) are jointly investigating the case, while Assistant U.S. Attorney Aaron Smith leads the prosecution.