Ex-CFO of Nebraska Bank Masterminds $4,320,000 Loan Scheme, Sentenced to 36 Months Behind Bars

A former Nebraska bank executive has been sentenced to three years in federal prison for his role in a $4.3 million bank fraud scheme tied to the construction of a car wash.

The Department of Justice (DOJ) says Aaron Luneke, the former chief financial officer of Bank of the Valley, was sentenced on July 13th after being convicted of bank fraud and attempted bank fraud.

A jury convicted Luneke in March.

Prosecutors say Luneke defrauded Bank of the Valley, where he once served as CFO, and attempted to defraud Stearns Bank in St. Cloud, Minnesota.

The case centered on loans connected to the construction and operation of Legacy Express Car Wash in Columbus, Nebraska.

Authorities say Luneke used fraudulent and inflated invoices to obtain construction loan funds for the project.

At sentencing, U.S. District Judge Brian C. Buescher found that Luneke abused his position as CFO to carry out the scheme and help conceal it.

The judge said Luneke’s role at the bank “significantly facilitated the commission and concealment of the fraud against the victim bank.”

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