Former TierOne Bank CEO gets 11 years in federal prison

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The former chief executive of TierOne Bank, a publicly traded Nebraska lender that failed in June 2010, was sentenced on Wednesday to 11 years in prison for fraudulently concealing loan and real.

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On Wednesday, the former tierone chief executive, Gilbert Lundstrom, got 11 years in prison and a fine. and regulators think the bank was healthier than it was. Laphen also was ordered to pay a.

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Former TierOne Bank President James Laphen was sentenced Thursday to 34 months in prison, a day after his former boss got 11 years for the fraud that sank what was Lincoln’s largest bank. Laphen.

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Former CEO of TierOne Bank Sentenced to 11 Years in Prison March 23, 2016 Posted in Fraud On March 23, Gilbert G. Lundstrom, the former CEO of TierOne Bank, was sentenced to 132 months in prison for orchestrating a scheme to defraud TierOne’s shareholders and to conceal more than $100 million in losses.