- Associated Press - Thursday, March 24, 2016

LINCOLN, Neb. (AP) - Two more former bank executives have been sentenced to federal prison for their roles in a fraud scheme that led to Lincoln-based bank’s collapse.

Former TierOne president James Laphen was sentenced Thursday to 34 months in prison after he pleaded guilty to charges of mail and wire fraud. Don Langford, the bank’s former chief credit officer, was also sentenced Thursday to 21 months in prison after pleading guilty to similar charges.

Both men testified against their former boss and CEO Gilbert Lundstrom, who was sentenced Wednesday to 11 years in prison after being convicted of 12 counts related to the 2010 failure of the bank.

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

Regulators took over TierOne in 2010.

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