Former TierOne Bank CEO gets 11 years in federal prison

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A longtime Nebraska lawyer who later served as the CEO of TierOne Bank when it became insolvent was sentenced Wednesday to an 11-year federal prison term. He was also ordered to pay a $1.2 million.

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 · Join CEO for hiding $100 million in losses. At the time of the closure, TierOne had more than 750 employees working at its headquarters in Lincoln and its 69 branch offices located in Nebraska, Iowa and Kansas. On Wednesday, Judge Gerrard ordered 74-year-old former TierOne CEO Gilbert Lundstrom to 11 years in prison.

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A federal judge sentenced the 70-year-old longtime leader of the failed bank to 23 years in prison. away in handcuffs. The former president and CEO of the Norfolk-based community bank was convicted.

Former TierOne Bank CEO gets 11 years in federal prison Former President & acting chief executive officer at TierOne Corporation. Relationship likelihood: Strong.. Former TierOne Bank CEO sentenced to 11 years in prison omaha world-herald (nebraska) march 24, 2016 No winners’ as former TierOne chief receives 11 years in prison Trending People Carrie Lam.

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OMAHA, Neb. (AP) – A federal appeals court has rejected the appeal of a former Nebraska bank executive convicted of fraud and sentenced to 11 years in federal prison. The 8th U.S. Circuit Court of.

(Reuters) – The former CEO 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.