Former bank manager indicted in $379,900 fraud scheme
HARRISBURG, Pa. – Karen E. Ramm, 50, of Camp Hill, was indicted on Wednesday, March 29, by a federal grand jury in Harrisburg for bank fraud.
According to United States Attorney Bruce D. Brandler, Ramm was a branch manager and loan officer at Commerce Bank (now known as First National Bank of Pennsylvania, successor to Metro Bank) between 2000 and 2010.
The indictment alleges that between 2001 and 2007, Ramm defrauded Commerce Bank by using her position to fraudulently originate approximately seven loans totaling $379,900 for a customer she knew personally. It is alleged that each loan contained false information regarding the borrower and it is also alleged that Ramm converted a portion of the loan proceeds to her own benefit.
If convicted Ramm faces a maximum penalty of 30 years in federal prison, a term of supervised release following her release and a fine.
The case was investigated by the Federal Bureau of Investigation with the assistance of the financial institution’s security and investigations staff. Indictments and Criminal Informations are only allegations. All persons charged are presumed to be innocent unless and until found guilty in court.