2 former TierOne executives charged with fraud
Source: Omaha World Herald
By Russell Hubbard
The former chief executive of failed TierOne Bank pleaded not guilty to white-collar criminal counts Wednesday. Earlier this week, the company’s ex-president pleaded guilty in the biggest Nebraska bank failure during the 2008-era financial crisis.
Gilbert Lundstrom, CEO of Lincoln-based TierOne from 1999 to 2010, was indicted this week by a federal grand jury in U.S. District Court in Lincoln.
He is charged with 15 counts, including mail, securities and wire fraud. Court records show that Lundstrom pleaded not guilty to the charges in court Wednesday.
“Gil is innocent and he looks forward to being vindicated at trial,” said Dan Collins, Lundstrom’s Chicago attorney.
FULL story at link.
Read more: http://www.omaha.com/money/former-tierone-executives-charged-with-fraud/article_acf52b6e-ebdc-5bf4-b19a-d239c49bd9e0.html
Why hasn't this happened to the Wall St criminals?
= new reply since forum marked as read
directly tie the CEO to the bad acts. In the cases of the (ill-defined) "Wall Street criminals", no such direct connections can/have been made.
ETA: Though Dimon did admit to violating (technically) the duties imposed under Sarbanes-Oxley. 