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Justice News

Department of Justice
U.S. Attorney’s Office
Middle District of Pennsylvania

FOR IMMEDIATE RELEASE
Thursday, October 29, 2020

Former Bank Manager Sentenced For Bank Fraud

HARRISBURG – The United States Attorney’s Office for the Middle District of Pennsylvania announced that Karen E. Ramm, age 54, of Wormleysburg, Pennsylvania, was sentenced on October 28, 2020, to one year plus one day imprisonment followed by two years of supervised release by Chief United States District Court Judge John E. Jones III, for her role in a bank fraud scheme. Chief Judge Jones also ordered Ramm to pay $102,500 in restitution ($21,668.31 to Commerce Bank and $80,831.69 paid to an insurance company). 

According to U.S. Attorney David J. Freed, Ramm was a Branch Manager and Loan Officer of Commerce Bank (now known as First National Bank of Pennsylvania, successor to Metro Bank) between 2003 and 2010.  Ramm pled guilty to defrauding Commerce Bank by falsely causing a business loan to be extended based on the representation that the borrower, with whom Ramm was in a personal relationship, needed an extension for a business project, when Ramm knew that was not the case.  The total net loss was $102,500.

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 prosecuted the case.

 

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Topic(s): 
Financial Fraud
Updated October 29, 2020