U.S. Bank President Lured Into Pig Butchering Scam – Embezzled Almost $50 Million – 2024
U.S. Bank President Lured Into Pig Butchering Scam
Victim Embezzled Almost $50 Million
Author:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
About This Article
The CEO of a Kansas bank was arrested for allegedly embezzling $50 million to participate in a “Pig Butchering” crypto scam, where victims are manipulated into investing in fake schemes.
This incident, causing the bank to fail, highlights the rising threat of investment fraud, which the FBI reports increased 183% from 2021 to 2022. Kansas bank commissioner David Herndon urges caution, advising against clicking unknown links or replying to suspicious emails. This case underscores the importance of investor education and awareness regarding crypto scams and other forms of investment fraud.
