The Sunday Read: ‘The Cryptocurrency Scam That Turned a Small Town Against Itself’
Podcast: The DailyPublished On: Sun Mar 02 2025
Description: Jim Tucker could hardly believe what he was hearing. It sounded like fiction, a nightmare too outlandish for an unassuming town like his.It was July 2023, and Tucker was hosting a meeting of the board of Heartland Tri-State Bank, a community-owned business in a small Kansas town called Elkhart. Heartland was a beloved local institution and a source of Tucker family pride: Tucker served on the board with his elderly father, Bill, who founded the bank four decades earlier. All of the board members — the Tuckers and several other farmers and businesspeople — had known one another for years.That evening, however, they were gathering to discuss what seemed, on its face, an epic betrayal. Over the past few weeks, the bank’s longtime president, a popular local businessman named Shan Hanes, had ordered a series of unexplained wire transfers that drained tens of millions of dollars from the bank. Hanes converted the funds into cryptocurrencies. Then the money vanished. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app.
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