Shaun U. Christian, Bank Fraud, Oklahoma 2021

Shaun U. Christian, 57, has been charged with bank fraud and money laundering in relation to the failed First National Bank of Lindsay (FNBL) in Oklahoma.

A federal grand jury in the Western District of Oklahoma returned an indictment yesterday charging Christian with conspiracy to commit bank fraud, bank fraud, and money laundering. The indictment alleges that Christian conspired with FNBL’s former President and CEO, Danny Seibel, 55, to defraud the bank.

According to court documents, Christian and Seibel submitted false information in connection with multiple loans in 2021. Seibel is further alleged to have manipulated bank records related to Christian’s accounts to conceal overdrafts and past-due balances, allowing additional funds to be extended to Christian.

The alleged scheme continued until shortly before FNBL’s failure in October 2024.

Christian is charged with one count of conspiracy to commit bank fraud, four counts of bank fraud, and three counts of money laundering. If convicted, Christian faces a maximum penalty for each count of conspiracy to commit bank fraud and bank fraud of 30 years in prison and a maximum penalty for each count of money laundering of ten years.

Danny Seibel, the former President and CEO of FNBL, was charged on December 3, 2025, with one count of conspiracy to commit bank fraud, six counts of bank fraud, ten counts of false bank entries, one count of obstructing the examination of a financial institution, and one count of failure to maintain an anti-money laundering program.

This case is the result of an investigation by the Federal Deposit Insurance Corporation Office of Inspector General, the Federal Housing Finance Agency Office of Inspector General, the FBI Oklahoma City Field Office, and IRS Criminal Investigation.

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 (MNF) Section Bank Integrity Unit are prosecuting the case.

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