Alva Review-Courier -

Ex-bank CEO sentenced to 4 years, $137 million restitution

 

December 16, 2018



OKLAHOMA CITY (AP) — The former president and CEO of a shuttered Oklahoma bank has been sentenced to four years in a federal prison and ordered to pay more than $137 million in restitution for making false statements.

Federal prosecutors say 68-year-old John Arnold Shelley of Oklahoma City was sentenced on Friday after pleading guilty to making a false statement to the Federal Deposit Insurance Corporation.

Shelley was named in a 23-count federal indictment following the failure of the Bank of Union of El Reno, which state banking regulators closed in January 2014 due to its losses. He pl...



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