United States v. Louis L. Seiffert, Jr.

WISDOM, Circuit Judge:

The defendant-appellant, Louis L. Seiffert, Jr., was chairman of the board of First State Bank of Aransas Pass, Texas, in 1969 when the bank failed and the Federal Deposit Insurance Corporation (FDIC) liquidated the bank’s holdings. Seiffert filed voluntary petitions in bankruptcy for himself and three corporations which he controlled. On December 10, 1969, the first meeting of creditors was held before the referee in bankruptcy. The defendant testified at that meeting and on February 9, 1970, gave his deposition in connection with a claim by the FDIC on a fidelity bond.…