⏱ 4 min read
Aaron T. Luneke, the former Chief Financial Officer of Bank of the Valley, has been sentenced to 36 months in prison for his role in a $4.3 million loan fraud scheme involving a car wash in Columbus, Nebraska. On July 13, 2026, Luneke appeared in federal court in Omaha, where he was found guilty of committing bank fraud and attempted bank fraud. The scheme, which took place in connection with loans to build and operate a Legacy Express Wash car wash, involved Luneke using fraudulent and inflated contractor invoices to artificially inflate the valuation of the car wash property.
Luneke’s actions were found to have significantly facilitated the commission and concealment of the fraud against the victim bank, with the court determining that he employed sophisticated means to carry out the scheme and served an aggravating role by organizing and leading others in executing aspects of the fraud. The court also found that Luneke obstructed justice by providing false testimony during trial and caused a victim to suffer substantial financial hardship.
The investigation, which was conducted by the Federal Bureau of Investigation and the Federal Deposit Insurance Corporation, found that Luneke had failed to disclose significant personal debts owed to family members in connection with the loan application. The jury found that Luneke had defrauded Stearns Bank by using fraudulent and inflated contractor invoices to pursue a $3.5 million refinancing loan, and had also defrauded Bank of the Valley by submitting fraudulent and inflated invoices from contractors as the basis for additional construction loan proceeds.
In addition to his prison sentence, Luneke was ordered to pay a $10,000 fine and will begin a five-year term of supervised release after his release from prison. The case highlights the importance of honesty and transparency in financial dealings, and the severe consequences that can result from engaging in fraudulent activity.
📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: Nebraska
- Location: NE
- Source: DOJ Press Release
