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Press Release

Glenham Man Sentenced for Bank Fraud

For Immediate Release
U.S. Attorney's Office, District of South Dakota

United States Attorney Alison J. Ramsdell announced that a Glenham, South Dakota, man convicted of Bank Fraud was sentenced on June 27, 2022, by U.S. District Judge Charles B. Kornmann.

Gabe Outtrim, age 43, was sentenced to 21 months in federal prison, followed by five years of supervised release, restitution in the amount of $144,050.94, and a special assessment to the Federal Crime Victims Fund in the amount of $100.

Outtrim was indicted by a federal grand jury on August 3, 2021.  He pled guilty on December 7, 2021.

The conviction stemmed from incidents beginning on approximately September 17, 2018, and continuing through February 21, 2019, when Outtrim, who was the branch manager and vice-president of the CorTrust Bank branch in Leola, South Dakota, knowingly executed a scheme to defraud the bank. 

In his capacity, Outtrim had lending authority to approve loans up to $200,000 without having to send the loan application and supporting documentation to the bank’s loan committee for review and approval.

Outtrim made a nominee loan in the name of an unknowing bank customer and used the loan proceeds for his own benefit. 

This case was investigated by the FBI.  Assistant U.S. Attorney Ann M. Hoffman prosecuted the case.

Outtrim was allowed to self-surrender by October 4, 2022.

Updated June 30, 2022

Financial Fraud