trending Market Intelligence /marketintelligence/en/news-insights/trending/05xg-LpNeJIiC8DuxbBrFg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Failed Okla. bank's former CEO ordered to pay $137M in restitution

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory


Failed Okla. bank's former CEO ordered to pay $137M in restitution

John Shelley, former chairman, president, CEO and loan officer of failed Bank of Union, has been sentenced to four years in federal prison for making a false statement to the Federal Deposit Insurance Corp.

The ruling, announced by Robert Troester of the U.S. Attorney's Office, also ordered Shelley to pay approximately $137.4 million in restitution. The indictment also charged that Shelley misled a partial owner and investor in the bank in 2012 into wiring $40 million to the bank even though he knew that it was on the brink of failure. The partial owner is due $40 million of the restitution amount. Shelley owes the remaining approximately $97.4 million to the FDIC, which lost money when it assumed the bank's liabilities in January 2014, when Bank of Union failed.

According to the indictment, Shelley also conspired with certain borrowers of Bank of Union from approximately 2009 through November 2013 to defraud the bank by issuing them millions of dollars in loan proceeds secured by collateral they did not have.

A federal grand jury returned a 23-count indictment against Shelley in December 2016 that charged him with defrauding the failed El Reno, Okla.-based bank.

On Sept. 18, 2017, Shelley pleaded guilty to making a false statement to the FDIC on July 30, 2013, when he falsely represented in writing that the bank had total equity capital of about $36.3 million when he knew the bank's equity capital was significantly less.