Former TierOne Bank CEO gets 11 years in federal prison

OMAHA, Neb. – A federal appeals court Friday rejected the appeal from Gilbert "Gil" Lundstrom, the former TierOne Bank CEO convicted in 2015 of a fraud scheme prior to the bank’s failure.

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On Wednesday, the former tierone chief executive, Gilbert Lundstrom, got 11 years in prison and a fine of $1.2 million. The sentencing of three felons to prison signals the high point – at least so far – for the Justice Department in obtaining redress for acts undertaken by the nation’s financial institutions during the mortgage crisis.

The former chief executive of a failed bank in Lincoln, Neb., was sentenced to 11 years in prison for forming a scheme to hide more than $100 million in losses from shareholders and regulators. Former.

CEO of TierOne Bank Sentenced to 11 Years in Prison Posted by Brenda Hamilton, Securities and Going Public Lawyer The Securities and exchange commission (sec) announced that on March 23, 2016, Gilbert Lundstrom, the former chairman of the board and CEO of TierOne Bank, based in Nebraska, was sentenced to 11 years in federal prison and ordered to pay a $1.2 million criminal fine.

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 · Gil Lundstrom serving 11-year sentence for bank fraud scheme. A federal appeals court Friday rejected the appeal from Gilbert "Gil" Lundstrom, the former TierOne Bank CEO convicted in 2015 of a fraud scheme prior to the bank’s failure. Lundstrom was sentenced to 11 years in prison and ordered to pay $3.1 million in restitution for his conviction.

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