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 indicted Shaun U. Christian, 57, of Lindsay, Oklahoma, on Apr. 8 for conspiracy to commit bank fraud, bank fraud, and money laundering connected to the former First National Bank of Lindsay.
The case highlights ongoing concerns about financial crimes affecting local banks and their communities. The indictment alleges that Christian conspired with Danny Seibel, the former president and CEO of First National Bank of Lindsay (FNBL), to defraud the institution by submitting false information for multiple loans in 2021. According to court documents, Seibel is also accused of manipulating FNBL's records to hide overdrafts and past-due balances in Christian's accounts so that more funds could be extended. The alleged scheme continued until shortly before FNBL failed in October 2024.
Christian faces one count of conspiracy to commit bank fraud, four counts of bank fraud, and three counts of money laundering. Each count carries a maximum penalty: up to thirty years in prison for each conspiracy or bank fraud charge and up to ten years for each money laundering charge if convicted.
Seibel was previously charged on December 3, 2025 with similar offenses: one count of conspiracy to commit bank fraud; six counts of bank fraud; ten counts related to false entries; one count for obstructing a financial institution examination; and one count for failing to maintain an anti-money laundering program. If convicted on all charges, Seibel could face sentences ranging from five years up to thirty years per offense depending on the specific violation.
The investigation involved several agencies including the Federal Deposit Insurance Corporation Office of Inspector General, Federal Housing Finance Agency Office of Inspector General, FBI Oklahoma City Field Office, and IRS Criminal Investigation. Assistant U.S. Attorneys Julia E. Barry and Jackson D. Eldridge are prosecuting along with Trial Attorneys Mark Goldberg, Elysa Q. Wan, and J. Ryan McLaren from the Department of Justice’s Money Laundering section.
Authorities remind the public that an indictment is only an allegation at this stage: "An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law."
