Aaron T. Luneke, 44, of Columbus, Nebraska, was sentenced to 36 months in federal prison on July 13, 2026, after a jury convicted him of bank fraud and attempted bank fraud in a scheme involving inflated construction invoices and undisclosed debts related to a car wash project that defrauded lenders of approximately $4.3 million.
Luneke, who served as Chief Financial Officer at Bank of the Valley, attempted to defraud Stearns Bank in Minnesota by submitting fraudulent and inflated contractor invoices to artificially inflate the valuation of a Legacy Express Wash car wash property in Columbus in pursuit of a $3.5 million refinancing loan. Prosecutors established that Luneke failed to disclose significant personal debts owed to family members on the Stearns Bank loan application.
The scheme escalated when Luneke defrauded Bank of the Valley by submitting the same fraudulent and inflated invoices from contractors as justification for additional construction loan proceeds. Bank of the Valley ultimately issued two loans to Luneke totaling approximately $4.3 million.
Federal Judge Brian C. Buescher determined at sentencing that Luneke’s position as CFO at Bank of the Valley “significantly facilitated the commission and concealment of the fraud against the victim bank.” The judge found that Luneke “employed sophisticated means to carry out the scheme; served an aggravating role by organizing, leading, managing, or supervising others in executing aspects of the fraud; obstructed justice by providing false testimony during trial; and caused a victim to suffer substantial financial hardship.”
In addition to his prison sentence, Luneke was ordered to pay a $10,000 fine and will serve five years of supervised release after his release from prison. The federal system has no parole.
The case was investigated by the Federal Bureau of Investigation, the Federal Deposit Insurance Corporation Office of Inspector General, the Federal Housing Finance Agency Office of Inspector General, and the Board of Governors of the Federal Reserve System Office of Inspector General.
