Former Evolve Financial institution and Belief CEO Robert Hartheimer has reportedly been arrested for possession of kid pornography, and in addition faces prices associated to the shopping for and promoting of youngsters, based on fintech journalist Jason Mikula.
The lack of yet one more CEO comes at a tough time for the Arkansas-based financial institution, which has been struggling since dramatic monetary points with Synapse Monetary Applied sciences started final yr.
Evolve’s earlier CEO left after it acquired a stop and desist letter from the Federal Reserve. The letter, associated to a few of its fintech partnerships, said, “Evolve engaged in unsafe and unsound banking practices.”
This isn’t the primary time that the financial institution has been mired in controversy. Certainly, it was linked to each FTX and pig butchering scams occurring in Southeast Asia.
Although Hartheimer solely took up the CEO position within the final couple months, his arrest on such severe prices might solely result in additional struggles for the financial institution.
Different execs have already bailed
Exterior of 1 CEO leaving and one other getting arrested on prices associated to baby pornography, three different executives — the financial institution’s chief credit score officer, company controller, and chief lending officer — jumped ship in August of final yr.
Protos reached out to Evolve Financial institution and Belief to ask who was presently acting-CEO and the financial institution was unable to offer us with a response.
