LINDSAY, OKLA. (KOKH) — A former president and CEO of a failed Oklahoma bank has pleaded guilty to one count of bank fraud.
On Wednesday, former president and Chief Executive Officer of First National Bank of Lindsay Danny Siebel entered the plea.
According to court documents, Siebel was an executive at FNBL from around February 2007 until he was terminated in September 2024. Seibel caused the bank to issue loans to certain customers, many of whom were his personal friends, that the borrowers never repaid.
The former CEO then manipulated the bank’s records and falsified various bank reports to overstate the performance of the loans, some by using new loans or transfers of the bank’s own funds to cover overdrafts of outstanding loans.
Seibel pleaded guilty to one count of bank fraud and is now facing up to 30 years in prison and a fine of up to $1 million. His sentencing date has not yet…
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