Former Bank CEO Pleads Guilty to Bank Fraud in Oklahoma
DANNY SEIBEL, the former president and CEO of the now-defunct First National Bank of Lindsay (FNBL), has pleaded guilty to one count of bank fraud, announced U.S. Attorney Robert J. Troester.
According to court documents, Seibel, 55, of Lindsay, Oklahoma, was an executive at FNBL from in or around February 2007 until his termination in September 2024.
As alleged, Seibel caused FNBL to issue loans to certain customers, many of whom were his personal friends and neighbors, that the borrowers never repaid. Seibel then manipulated the bank’s records and falsified various bank reports to falsely overstate the performance of the loans, including by using new loans or transfers of the bank’s own funds to cover overdrafts of outstanding loans.
The Office of the Comptroller of the Currency appointed a receiver for the bank in October 2024.
On December 3, 2025, a federal grand jury charged Seibel with bank fraud. Yesterday, Seibel pleaded guilty and admitted he knowingly executed a scheme to defraud the First National Bank of Lindsay.
At sentencing, he faces up to 30 years in prison and a fine of up to $1 million.
Assistant U.S. Attorneys Julia E. Barry and Jackson D. Eldridge for the Western District of Oklahoma, and Trial Attorneys Mark Goldberg, Elysa Q. Wan, and J. Ryan McLaren of the Criminal Division’s Money Laundering, Narcotics and Forfeiture Section are prosecuting the case.
The Money Laundering, Narcotics and Forfeiture Section’s Bank Integrity Unit investigates and prosecutes banks and other financial institutions, including their officers, managers and employees whose actions threaten the integrity of the individual institution or the wider financial system.
Key Facts
- State: Oklahoma
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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