Oklahoma Man Pleads Guilty in Bank Fraud Scheme Linked to Failed Community Bank
Oklahoma Man Admits Role in Bank Fraud Scheme
An Oklahoma bank customer has pleaded guilty to conspiring in a fraud and money-laundering scheme tied to the collapse of First National Bank of Lindsay. Shaun U. Christian, 57, admitted conspiring to commit bank fraud and to launder money linked to the now-defunct bank.
Court papers say Christian and the bank's former president and CEO, Danny Seibel, submitted false information on multiple loans in 2021. Prosecutors allege Seibel also altered records on Christian's accounts to hide overdrafts and past-due balances so more money could keep flowing to him.
The scheme allegedly ran until shortly before the bank failed in October of 2024. A federal grand jury charged Christian on April 7th of 2026, and he entered a plea on September 24th. He admitted working with Seibel to enrich himself and his businesses while helping Seibel keep his job.
Christian also admitted laundering some of the proceeds. At sentencing, each man faces up to 30 years in federal prison and a fine of as much as $1 million.