A former borrower of the First National Bank of Lindsay conspired with the bank’s former chief executive concerning loans, which contributed to the Oklahoma bank’s collapse in 2024, the US Department of Justice (DOJ) said.
Shaun U. Christian, a friend of the bank’s former CEO, Danny Seibel, submitted false information on multiple loans in 2021, the DOJ said Friday in announcing Christian’s guilty plea Thursday to money laundering and conspiracy to commit bank fraud. A federal grand jury charged Christian on April 7. Seibel pleaded guilty to one count of bank fraud on May 6 and faces up to 30 years in prison.
