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Danny Seibel, the former president and CEO of the now-defunct First National Bank of Lindsay in Oklahoma, has pleaded guilty to bank fraud. Between 2007 and 2024, Seibel issued loans to friends and neighbors who never repaid them, then falsified bank records to cover up the losses. The scheme ultimately led to the bank’s downfall, with the Office of the Comptroller of the Currency appointing a receiver in October 2024.
Seibel’s actions were uncovered by a joint investigation involving the Federal Deposit Insurance Corporation Office of Inspector General, the FBI, the IRS, and the Federal Housing Finance Agency Office of the Inspector General. On December 3, 2025, a federal grand jury charged Seibel with bank fraud, and he pleaded guilty to the crime, admitting to knowingly executing a scheme to defraud the bank.
The consequences of Seibel’s actions will be severe: he faces up to 30 years in prison and a fine of up to $1 million at sentencing. The case is a stark reminder of the importance of integrity in banking and the severe penalties for those who abuse their positions of trust.
The investigation and prosecution of Seibel’s case involved a team of law enforcement agencies and prosecutors, including Assistant U.S. Attorneys Julia E. Barry and Jackson D. Eldridge, as well as Trial Attorneys Mark Goldberg, Elysa Q. Wan, and J. Ryan McLaren of the Justice Department’s Criminal Division.
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📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: Oklahoma
- Location: OK
- Source: DOJ Press Release
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