Floridian Charged with Defrauding First Commonwealth Bank
PITTSBURGH - A resident of Bal Harbour, Florida, has been indicted by a federal grand jury in Pittsburgh on charges of bank fraud, United States Attorney David J. Hickton announced today.
The three-count indictment named Edmund M. Abramson, 81, is the sole defendant.
According to the indictment, Abramson lied about his assets and falsified financial statements in order to obtain loans from First Commonwealth Bank.
The law provides for a maximum total sentence of 70 years in prison, a fine of $1,500,000 or both. Under the Federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.
Assistant United States Attorney Robert S. Cessar is prosecuting this case on behalf of the government.
The Federal Bureau of Investigation conducted the investigation leading to the indictment in this case.
An indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.