Between May and July of 2023, Hanes transferred $47.1 million of the bank's funds to the fraudulent scheme. This ultimately led to the bank collapsing, with equ

Between May and July of 2023, Hanes transferred $47.1 million of the bank's funds to the fraudulent scheme. This ultimately led to the bank collapsing, with equity investors losing $9 million and the FDIC footing the bill. "There were people who lost 70, 80% of their retirement" as a result of their investment losses, stated a community member. Woof. Not sure what was his game plan. Smuggle out $47 million in three months, double it in crypto, return the original, and sit pretty? If the bank compliance controls were so bad he could sneak off with that much, he probably could have just squirreled away a couple of million without anybody noticing.