Tue Sep 25, 2012, 09:22 PM

Ex-bankers pay penalties over SEC charges

Source: Omaha World Herald

By Cindy Gonzalez

Three former executives of Nebraska’s former TierOne Bank have been charged with hiding millions of dollars in losses — misleading investors and federal regulators at the height of the nation’s financial crisis.

A fourth man, a son of one of the bankers, was charged along with his father with insider trading.

The alleged civil violations announced Tuesday by the Securities and Exchange Commission are against CEO and Board Chairman Gilbert Lundstrom of Lincoln; President James Laphen of Omaha; chief credit officer Don Langford of Gibsonia, Pa.; and Trevor Lundstrom, the CEO’s son, who lives in Birmingham, Ala.

The Lundstroms and Laphen settled their cases by agreeing to collectively pay nearly $1.2 million, which is subject to approval by the U.S. District Court.

FULL story at link.

Read more: http://www.omaha.com/article/20120925/MONEY/709269926/1707#ex-bankers-pay-penalties-over-sec-charges

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3 replies	Author	Time	Post
Ex-bankers pay penalties over SEC charges (Original post)	Omaha Steve	Sep 2012	OP
Steal enough money, you just have to pay a "tithe" on it	dixiegrrrrl	Sep 2012	#1
Fine them and send them to prison	Angry Dragon	Sep 2012	#2
It's a start	rks306	Sep 2012	#3

Response to Omaha Steve (Original post)

Tue Sep 25, 2012, 09:44 PM

dixiegrrrrl (31,394 posts)

1. Steal enough money, you just have to pay a "tithe" on it

to the god Mamon.

then again, this could be a smart move by Treasury, to accept fines to keep the Treasury running.

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Response to Omaha Steve (Original post)

Tue Sep 25, 2012, 10:10 PM

Angry Dragon (24,073 posts)

2. Fine them and send them to prison

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Response to Omaha Steve (Original post)

Wed Sep 26, 2012, 01:32 AM

rks306 (112 posts)

3. It's a start

What Wall St. did to us should be some kind of a crime. I want to see a couple of them go to jail. Not a resort prison, but one that they may get their ass busted.

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