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The Sunday Read: ‘The Cryptocurrency Scam That Turned a Small Town Against Itself’ – The New York Times

Jim Tucker barely believed what he had heard. It sounded like fiction, a strange nightmare for a modest town like him.

In July 2023, Tucker was holding a meeting for Heartland Tri-State Bank, a community-owned business in a small town of Kansas called Elk Heart. Heartland was a beloved local establishment and was the source of the Tucker Family Pride. Tucker served on the board along with Bill, an elderly father who founded the bank 40 years ago. Tucker and all the other members of several farmers and businessmen have known each other for years.

But that night they were gathered to discuss what appears to be a grand betrayal on their faces. Over the past few weeks, the popular businessman named Shan Haynes, the bank's longtime president, has ordered a series of unexplained wire transfers that emit tens of millions of dollars from the bank. Hanes converted the funds into cryptocurrency. After that, the money disappeared.

There are many ways to listen to “everyday.” This is the way.

We want to hear from you. Tune it and tell us what you think. Please email thedaily@nytimes.com. Follow Michael Barbaro on X: @mikiebarb. Also, if you are interested in advertising on “The Daily”, please write it at thedaily-ads@nytimes.com.


Additional production of Sunday's reading was contributed by Isabella Anderson, Anna Diamond, Freenee Kerr Toss, Elena Hecht, Emma Kalebeck, Tanya Perez and Krish Sheenivashan.

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