- Associated Press - Friday, February 12, 2016

LINCOLN, Neb. (AP) - A former Nebraska bank executive convicted of fraud has lost his bids for acquittal or a new trial.

Court records say a federal judge rejected the motions Thursday from former TierOne Bank President and CEO Gilbert Lundstrom. He was convicted in November of 12 counts related to the 2010 failure of the Lincoln-based bank. His sentencing is set for Feb. 24.

Lundstrom’s acquittal motion said prosecutors didn’t prove each count beyond a reasonable doubt. The motion for a new trial said, among other things, that the court let the jury consider improper hearsay evidence and was wrong to instruct jurors that they could find that Lundstrom willfully sought to remain unaware of any wrongdoing.

Prosecutors have said Lundstrom and other bank officers hid losses from regulators and shareholders.



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