OMAHA, Neb. — A former Nebraska bank executive has been convicted in federal court for orchestrating a multimillion-dollar loan fraud scheme tied to a car wash construction project.
Aaron Luneke, the former chief financial officer of Bank of the Valley in Columbus, was found guilty by a federal jury on March 6 following a two-week trial in Omaha.
Prosecutors said Luneke used his position at the bank to file fraudulent invoices that inflated the value of his car wash business, Legacy Express Wash. The scheme allowed him to obtain two loans totaling about $4.3 million.
According to court records, Luneke served as CFO at the bank from 2018 to 2022. In 2021, prosecutors said he devised a plan to defraud two federally insured financial institutions connected to the Columbus car wash construction project.
Investigators said Luneke submitted fraudulent and inflated contractor invoices to secure a $3.5 million refinancing loan from Stearns Bank in St. Cloud.
Authorities also said he failed to disclose significant personal debts owed to family members during the loan application process.
Prosecutors said Luneke further concealed the scheme by using multiple corporate shell companies, which masked that other individuals were benefiting from his ownership interest in the business.
The United States Attorney’s Office for the District of Nebraska said Luneke exploited his position inside the bank to help carry out the fraud.
Luneke faces up to 30 years in prison on each count and fines of up to $1 million per count. His sentencing is scheduled for June 10, 2026, in federal court.
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