Glenham Man indicted on two counts of federal bank fraud under CorTrust Bank lending schemes



PIERRE – A man from Glenham faces federal bank fraud charges after the FBI said he made a profit from a credit scheme.

In a press release, the US Attorney’s Office said that 42-year-old Gabe Outtrim of Glenham made two nominal loans in an undisclosed amount to an unknown client between 2015 and 2019, when he was a bank manager and vice president of the company. Branch of CorTrust Bank in Leola.

Outtrim’s LinkedIn profile indicates that he worked at CorTrust Leola for over 11 years, preceded by a position as Senior Credit Manager at Wells Fargo.

Details of the alleged fraud were closed by the court, but the report alleges that Outtrim used the bank’s loan profits to their advantage.

After being indicted on August 3, Outtrim appeared before a federal judge in Pierre’s courtroom on August 12 and pleaded not guilty to both counts.

Outtrim is currently on bail and is due to appear in court on October 19.

He currently faces up to 30 years in federal prison, a million dollar fine, five years of supervised release, and up to $ 200 for the Federal Crime Victim Assistance Fund.


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