Cryptocurrency ‘pig butchering' scam wrecks Kansas bank, sends ex-CEO to prison for 24 years [CNBC]
Midland States Bancorp, Inc. (MSBI)
Last midland states bancorp, inc. earnings: 4/23 04:30 pm
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Source: CNBC
wallets controlled by scammers who had duped him in a “pig butchering” scheme that appealed to his greed, federal prosecutors said. The massive embezzlement by ex-CEO Shan Hanes in a series of wire transfers over just eight weeks last year led to the collapse and FDIC takeover of Heartland Tri-State Bank in Elkhart, one of only five U.S. banks that failed in 2023. Hanes, 53, also swindled funds from a local church and investment club — and a daughter's college savings account — to transfer money, purportedly to buy cryptocurrency as the scammers insisted they needed more funds to unlock the supposed returns on his investments, according to records from U.S. District Court in Wichita, Kansas. But Hanes never realized any profit, and lost all of the money he stole, as a result of the scam. Judge John Broomes on Monday sentenced Hanes to 293 months in prison — 29 months more than what prosecutors requested after he pleaded guilty in May to a single count of embezzlement by a bank
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News
- Is Midland States Bancorp (MSBI) Stock Undervalued Right Now? [Yahoo! Finance]Yahoo! Finance
- Midland States Bancorp, Inc. Announces Common Stock and Preferred Stock DividendsGlobeNewswire
- Midland States Bancorp, Inc. (NASDAQ: MSBI) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Midland States Bancorp, Inc. (NASDAQ: MSBI) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Midland States Bancorp, Inc. (NASDAQ: MSBI) had its price target raised by analysts at Piper Sandler from $26.00 to $27.00. They now have a "neutral" rating on the stock.MarketBeat
MSBI
Earnings
- 10/24/24 - Beat
MSBI
Sec Filings
- 11/12/24 - Form 8-K
- 11/12/24 - Form 4
- 11/12/24 - Form 144
- MSBI's page on the SEC website