The government has charged three former executives of a failed bank in Nebraska with misleading investors about the extent of the bank's losses during the financial crisis.

Gilbert Lundstrom, the ex-chief executive of TierOne Bank of Lincoln, James Laphen, the bank's former president, and erstwhile chief credit officer Don Langford concealed the extent of losses on real estate owned by TierOne so the bank would appear to satisfy capital requirements over a roughly 13-month period beginning in October 2008, the Securities Exchange Commission alleged in a complaint filed Tuesday in Omaha federal court.

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