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    Home»Banking»The Sunday Read: ‘The Cryptocurrency Scam That Turned a Small Town Against Itself’
    Banking

    The Sunday Read: ‘The Cryptocurrency Scam That Turned a Small Town Against Itself’

    IDKWYDBy IDKWYDMarch 2, 2025No Comments2 Mins Read
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    Hear and comply with ‘The Day by day’
    Apple Podcasts | Spotify | Amazon Music | YouTube | iHeartRadio

    Jim Tucker may hardly consider what he was listening to. It seemed like fiction, a nightmare too outlandish for an unassuming city like his.

    It was July 2023, and Tucker was internet hosting a gathering of the board of Heartland Tri-State Financial institution, a community-owned enterprise in a small Kansas city known as Elkhart. Heartland was a beloved native establishment and a supply of Tucker household satisfaction: Tucker served on the board along with his aged father, Invoice, who based the financial institution 4 many years earlier. All the board members — the Tuckers and several other different farmers and businesspeople — had recognized each other for years.

    That night, nonetheless, they have been gathering to debate what appeared, on its face, an epic betrayal. Over the previous few weeks, the financial institution’s longtime president, a well-liked native businessman named Shan Hanes, had ordered a collection of unexplained wire transfers that drained tens of thousands and thousands of {dollars} from the financial institution. Hanes transformed the funds into cryptocurrencies. Then the cash vanished.

    There are loads of methods to take heed to ‘The Day by day.’ Here’s how.

    We wish to hear from you. Tune in, and inform us what you suppose. Electronic mail us at thedaily@nytimes.com. Comply with Michael Barbaro on X: @mikiebarb. And for those who’re keen on promoting with ‘The Day by day,’ write to us at thedaily-ads@nytimes.com.


    Further manufacturing for The Sunday Learn was contributed by Isabella Anderson, Anna Diamond, Frannie Carr Toth, Elena Hecht, Emma Kehlbeck, Tanya Pérez, and Krish Seenivasan.





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