Ashton Ryan, former CEO of First NBC Bank, has been found guilty of bank fraud charges that contributed to the New Orleans bank’s failure in 2017.
A court found Ryan guilty of all 46 counts against him, according to multiple media reports.
Ryan had been accused of approving loans for borrowers that he knew couldn’t repay the debt. He was accused of hiding the financial status of the loans and obscuring First NBC’s condition from directors and bank examiners.
Several other former officers at First NBC chose to plead guilty rather than move forward with a trial, including Robert Calloway, an executive vice president, and William Burnell, the bank’s chief credit officer.