by Emma Roth from The Verge - All Posts on (#6Q6NJ)
Image: Cath Virginia / The Verge; Getty Images A Kansas man was sentenced to 24 years in prison after pouring $47.1 million into a pig butchering scam - using money from the bank he was in charge of. Shan Hanes, the former CEO of the small Heartland Tri-State Bank, pleaded guilty to embezzlement after routing the funds to scammers' crypto accounts, causing the bank to collapse.As reported by NBC News, Hanes fell for a pig butchering scam that had him purchasing crypto to unlock the supposed returns on his investments," which he never received.In recent years, pig butchering scams have become increasingly common, with a recent study showing victims lost over $75 billion to the ruse globally. Google even sued two alleged scammers earlier this year over accusations they uploaded... Continue reading...