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November 6, 2015

Posted  January 25, 2016

Former CEO of TierOne Bank Gilbert G. Lundstrom was convicted 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.  In 2014, co-conspirators James Laphen, TierOne’s former president and chief operating officer, and Don Langford, TierOne’s former chief credit officer, pleaded guilty to multiple felonies in connection with their participation in the scheme.  DOJ

Tagged in: Financial and Investment Fraud, Misrepresentations,