LINCOLN, Neb. (AP) — A former Nebraska bank executive convicted of fraud and sentenced to federal prison is planning to appeal.
Attorneys for 74-year-old Gilbert Lundstrom filed paperwork Wednesday notifying the court he would appeal the jury verdict and sentence.
The former TierOne Bank CEO was sentenced in March to 11 years in prison and fined $1.2 million after he was found guilty of 12 counts related to the 2010 failure of the Lincoln-based bank.
Prosecutors have said Lundstrom and other bank officers hid losses from regulators and shareholders.
Lundstrom testified he never knowingly provided false information to investors or federal regulators.