Former Minneapolis bank CEO sentenced to 1 year in prison for fraud, tax offenses

The former CEO of Minneapolis-based Crown Bank who pleaded guilty to fraud and tax offenses was sentenced to federal prison Monday.

According to a release from the U.S. Attorney’s Office, Peter Dahl was sentenced to one year and one day in prison.

Dahl pleaded guilty in July to wire fraud and filing a false income tax return.

According to Dahl’s guilty plea, while president of Crown Bank, he conducted transactions involving funds of Crown Bank for his own purposes. Dahl did not receive permission from the bank’s board or shareholders, nor did he receive approval from state and federal regulatory agencies.