Failed Bank’s Former CEO Loses Appeal to Undo Fraud Convictions

The former president and CEO of First NBC Bank in New Orleans lost an appeal to undo his 2023 fraud convictions after the Fifth Circuit said there was more than adequate proof of fraud.

The evidence at Ashton Ryan Jr.'s month-long trial showed that he conspired and lied to deceive the bank’s board, auditors and examiners so it would issue loans to insolvent borrowers, the US Court of Appeals for the Fifth Circuit said Friday.

Citing the US Supreme Court’s decision in Ciminelli v. United States, Ryan claimed his convictions were based on the now invalid theory that ...