Robert J. "Bob" Troester U.S. Attorney | U.S. Attorney for the Western District of Oklahoma
A federal grand jury in the Western District of Oklahoma has indicted Danny Seibel, 54, former President and Chief Executive Officer of the First National Bank of Lindsay. Seibel is charged with conspiracy to commit bank fraud, bank fraud, making false entries in financial institution records, obstructing a financial institution examination, and failing to implement an anti-money laundering program.
According to the indictment, Seibel led the First National Bank of Lindsay from February 2007 until his termination in September 2024. He also served as Chief Financial Officer and Bank Secrecy Act Officer during this period. The indictment alleges that Seibel approved loans for certain customers—many being personal friends and neighbors—which were never repaid. He is accused of altering bank records and falsifying reports to overstate loan performance by using new loans or transfers from the bank’s own funds to cover overdrafts on outstanding loans.
The document further states that Seibel frequently changed bank records to hide these activities from both the Office of the Comptroller of the Currency (OCC), which regulates national banks, and from the Board of Directors. In summer 2024, while OCC staff conducted an onsite examination at the bank, Seibel allegedly gave them a false document concealing hundreds of changes he had made to loan data.
Additionally, it is alleged that Seibel did not implement an anti-money laundering program as required by law. For example, he reportedly failed to file suspicious activity reports related to his scheme and advised customers on how to avoid reporting requirements by keeping cash deposits under $10,000.
The OCC appointed a receiver for First National Bank of Lindsay in October 2024 after discovering these issues.
If convicted on all counts, Seibel could face up to 30 years in federal prison and a fine reaching $1 million.
Acting Assistant Attorney General Matthew R. Galeotti; U.S. Attorney Robert J. Troester for the Western District of Oklahoma; Acting Special Agent in Charge Joseph Melle (FDIC-OIG); Special Agent in Charge Doug Goodwater (FBI Oklahoma City Field Office); Special Agent in Charge Christopher Altemus (IRS-CI); and Special Agent in Charge Korey Brinkman (FHFA-OIG) jointly announced these charges.
The investigation is being handled by FDIC-OIG, FBI, IRS-CI and FHFA-OIG.
Prosecution will be managed by Assistant U.S. Attorneys Julia E. Barry and Jackson D. Eldridge along with Trial Attorneys Mark Goldberg, Ryan McLaren, and Elysa Wan from the Justice Department’s Money Laundering, Narcotics and Forfeiture Section’s Bank Integrity Unit.
"An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law."
