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The 'Friends & Family' Plan Gone Wrong: First National Bank of Lindsay CEO Indicted
Former CEO Danny Seibel has been indicted for a fraud scheme that toppled the First National Bank of Lindsay. Details on the "friends and neighbors" loans that cost the FDIC $43M.
Staff Writer
Dec 7, 20252 min read
Bank Fraud Cases Underscore Critical Need for Enhanced Due Diligence
Paul's fraud scheme involved 42 separate loans across 17 institutions, indicating that individual lenders may have lacked the systems to identify patterns of suspicious activity that would have been apparent when viewed collectively.
Staff Writer
Jul 9, 20253 min read
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