Former Evolve Bank and Trust CEO Robert Hartheimer has reportedly been arrested for possession of child pornography, and also faces charges related to the buying and selling of children, according to fintech journalist Jason Mikula.
The loss of yet another CEO comes at a difficult time for the Arkansas-based bank, which has been struggling since dramatic financial issues with Synapse Financial Technologies began last year.
Evolve’s previous CEO left after it received a cease and desist letter from the Federal Reserve. The letter, related to some of its fintech partnerships, stated, “Evolve engaged in unsafe and unsound banking practices.”
This isn’t the first time that the bank has been mired in controversy. Indeed, it was linked to both FTX and pig butchering scams occurring in Southeast Asia.
Though Hartheimer only took up the CEO role in the last couple months, his arrest on such serious charges could only lead to further struggles for the bank.
Read more: US seizes pig-butchering funds at Evolve Bank
Other execs have already bailed
Outside of one CEO leaving and another getting arrested on charges related to child pornography, three other executives — the bank’s chief credit officer, corporate controller, and chief lending officer — jumped ship in August of last year.
Protos reached out to Evolve Bank and Trust to ask who was currently acting-CEO and the bank was unable to provide us with a response.
We will update this article if and when more news about Hartheimer or an acting-CEO for Evolve Bank and Trust is divulged.