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Former Bank Manager Indicted for Bank Fraud
HARRISBURG – A former bank manager from Camp Hill, Pennsylvania, has been indicted on charges of bank fraud, according to the United States Attorney’s Office for the Middle District of Pennsylvania.
Karen E. Ramm, 50, is accused of defrauding Commerce Bank, now known as First National Bank of Pennsylvania, between 2001 and 2007. During that time, Ramm allegedly used her position to originate seven loans totaling $379,900 for a customer she knew personally.
The indictment alleges that each loan contained false information regarding the borrower, and Ramm is accused of converting a portion of the loan proceeds to her own benefit.
The case was investigated by the Federal Bureau of Investigation with the assistance of the financial institution’s security and investigations staff. Assistant U.S. Attorney James T. Clancy is prosecuting the case.
Ramm is facing up to 30 years in prison, as well as a fine, if convicted. However, the actual sentence will depend on a number of factors, including the nature of the offense and Ramm’s personal history.
Indictments are only allegations, and Ramm is presumed innocent until proven guilty in court.
The case serves as a reminder of the importance of protecting our financial institutions from those who would seek to exploit them for personal gain.
Key Facts
- State: Pennsylvania
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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