SIOUX FALLS, S.D. (KELO) — A Glenham man was sentenced to nearly two years in prison and must pay $144,000 in restitution on a bank fraud charge.
Gabe Outtrim 43, was sentenced on June 27 to 21 months in prison for defrauding the CorTrust Bank branch in Leola, according to the Department of Justice in South Dakota.
Outtrim was the branch manager and vice president of the bank when he defrauded the bank from Sept. 17, 2018, through Feb. 21, 2019, the DOJ said. Outtrim made a nominee loan in the name of an unknowing bank customer and used the loan proceeds for his own benefit, according to the DOJ.
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 pleaded guilty on Dec. 7, 2021, after he was indicted by a grand jury on Aug. 3, 2021.
In addition to the prison sentence he will must serve five years of supervised release.