Conviction, sentence of ex-Nebraska bank executive upheld

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OMAHA, Neb. (AP) -- A federal appeals court has rejected the appeal of a former Nebraska bank executive convicted of fraud and sentenced to 11 years in federal prison.

The 8th U.S. Circuit Court of Appeals on Friday affirmed Lundstrom's conviction, sentence and his part of a $3.1 million restitution award.

The former TierOne Bank CEO and Gothenburg native was sentenced in 2016 after he was found guilty of 12 counts related to the 2010 failure of the Lincoln-based bank.

Prosecutors 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.