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Employee Benefits

Court asked to block benefit payouts to bank execs convicted of fraud

July 09, 2021 Reprints

Federal prosecutors want a federal court to block the FDIC from disbursing nearly $3 million to Gilbert Lundstrom and James Laphen, who filed claims for unpaid retirement benefits and deferred compensation at TierOne Bank, reports the Lincoln (Neb.) Journal Star. The two were convicted of fraud leading to the Lincoln-based bank’s collapse in 2010 and were sentenced to prison along with hefty fines and restitution that remain unpaid.

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Court asked to block benefit payouts to bank execs convicted of fraud

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