OKLAHOMA CITY – A federal grand jury in the Western District of Oklahoma returned an indictment yesterday charging SHAUN U. CHRISTIAN (“Christian”), 57, of Lindsay, Oklahoma, with conspiracy to commit bank fraud, bank fraud, and money laundering in relation to the now-defunct First National Bank of Lindsay (“FNBL”).
According to court documents, Christian is alleged to have conspired with FNBL’s former President and CEO, Danny Seibel, 55, to defraud FNBL. The indictment alleges that, among other things, Christian and Seibel submitted false information in connection with multiple loans in 2021. Seibel is further alleged to have manipulated bank records related to Christian’s accounts to conceal overdrafts and past-due balances, allowing additional funds to be extended to Christian. The alleged scheme continued until shortly before FNBL’s failure in October 2024. The indictment also alleges that Christian laundered proceeds from the fraud through various personal expenditures.
Christian is charged with one count of conspiracy to commit bank fraud, four counts of bank fraud, and three counts of money laundering. If convicted, Christian faces a maximum penalty for each count of conspiracy to commit bank fraud and bank fraud of 30 years in prison and a maximum penalty for each count of money laundering of ten years.
On December 3, 2025, Seibel was charged with one count of conspiracy to commit bank fraud, six counts of bank fraud, ten counts of false bank entries, one count of obstructing the examination of a financial institution, and one count of failure to maintain an anti-money laundering program. If convicted, Seibel faces a maximum penalty of 30 years in prison for each conspiracy to commit bank fraud, bank fraud, and false entry count, five years for obstructing the examination of a financial institution, and ten years for failure to maintain an anti-money laundering program.
This case is the result of an investigation by the Federal Deposit Insurance Corporation Office of Inspector General, the Federal Housing Finance Agency Office of Inspector General, the FBI Oklahoma City Field Office, and IRS Criminal Investigation.
Assistant U.S. Attorneys Julia E. Barry and Jackson D. Eldridge for the Western District of Oklahoma; and Trial Attorneys Mark Goldberg, Elysa Q. Wan, and J. Ryan McLaren of the Criminal Division’s Money Laundering, Narcotics and Forfeiture (MNF) Section Bank Integrity Unit are prosecuting the case.
An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
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