A federal grand jury in the Western District of Oklahoma has indicted Danny Seibel, the former President and Chief Executive Officer of the First National Bank of Lindsay, on charges related to bank fraud and other financial crimes. The indictment accuses Seibel, 54, of Lindsay, Oklahoma, of conspiring to commit bank fraud, making false entries in bank records, obstructing a federal examination, and failing to implement an anti-money laundering program.
According to court documents, Seibel led the bank from February 2007 until his termination in September 2024. He also served as Chief Financial Officer and Bank Secrecy Act Officer during his tenure. The indictment alleges that Seibel arranged loans for certain customers—many of whom were his personal friends and neighbors—which were not repaid. He is accused of altering bank records and falsifying reports to overstate loan performance, including using new loans or transfers from the bank’s own funds to cover existing overdrafts.
The indictment further states that Seibel modified records to hide this activity from the Office of the Comptroller of the Currency (OCC), which regulates national banks, as well as from the bank’s Board of Directors. During an OCC examination in summer 2024, he allegedly provided staff with a document that concealed hundreds of changes he had made to loan data. Additionally, Seibel is accused of not implementing an anti-money laundering program as required by law; specifically, he failed to file suspicious activity reports on his own actions and advised customers to make deposits under $10,000 to avoid reporting requirements.
In October 2024, following these events, the OCC appointed a receiver for the First National Bank of Lindsay.
If convicted on all counts, Seibel could face up to 30 years in federal prison and a fine up to $1 million.
Acting Assistant Attorney General Matthew R. Galeotti stated: “Making the announcement today are Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division; U.S. Attorney Robert J. Troester for the Western District of Oklahoma; Acting Special Agent in Charge Joseph Melle of the Federal Deposit Insurance Corporation Office of Inspector General (FDIC-OIG); Special Agent in Charge Doug Goodwater of the Federal Bureau of Investigation (FBI) Oklahoma City Field Office; Special Agent in Charge Christopher Altemus of the Internal Revenue Service – Criminal Investigations (IRS-CI); and Special Agent in Charge Korey Brinkman of the Federal Housing Finance Agency Office of the Inspector General (FHFA-OIG).”
The investigation is being conducted by FDIC-OIG, FBI, IRS-CI and FHFA-OIG. The case will be prosecuted by Assistant U.S. Attorneys Julia E. Barry and Jackson D. Eldridge for the Western District along with Trial Attorneys Mark Goldberg, Ryan McLaren, and Elysa Wan from the Justice Department’s Money Laundering, Narcotics and Forfeiture Section.
The Bank Integrity Unit within this section handles cases involving banks or their officers whose conduct may threaten financial institutions or broader system integrity.
An indictment is only an allegation; all defendants are presumed innocent until proven guilty beyond a reasonable doubt in court.
