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March 23, 2016

Posted  March 28, 2016

Gilbert G. Lundstrom, the former CEO of TierOne Bank — a $3 billion publicly-traded commercial bank formerly headquartered in Lincoln, Nebraska — was sentenced to 132 months in prison and to pay a $1.2 million fine for orchestrating a scheme to defraud TierOne’s shareholders and to mislead regulators by concealing more than $100 million in losses on loans and declining real estate.  DOJ

Tagged in: Financial and Investment Fraud, Financial Institution Fraud, Misrepresentations, Securities Fraud,