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The Nebraska Supreme Court has accepted the voluntary surrender of an imprisoned ex-bank executive's law license and ordered him disbarred.

The state's high court said in its ruling Friday that 77-year-old Gilbert Lundstrom's license was already inactive and that he voluntarily surrendered his license in September, noting that he had been convicted in federal court of 12 fraud-related felony counts.

Lundstrom was sentenced in 2016 to 11 years in federal prison for his role in the 2010 failure of Lincoln-based TierOne Bank, where he had served as chief executive officer.

Prosecutors said Lundstrom conspired with other bank officers to hide the bank's troubled finances from regulators and shareholders.



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