Former M&T Bank assistant VP pleads guilty to fraud scheme

Somarriba, 67, had worked at M&T Bank for 25 years

January 03, 2012|By Steve Kilar, The Baltimore Sun

A former assistant vice president of M&T Bank pleaded guilty in federal court Tuesday to being involved with a scheme to defraud one of the bank's customers and a federal institution, prosecutors said.

Baltimore resident Rosamaria T. Somarriba, 67, admitted to transferring funds out of the accounts of one of the bank's corporate customers for her own benefit, according to a statement Tuesday from the U.S. Attorney's Office for the District of Maryland. Some of the funds she stole belonged to the Export-Import Bank of the United States.

In total, Somarriba took more than $200,000 over a four year period, the statement said.

Somarriba faces a maximum prison sentence of 20 years. Her sentencing is scheduled for the end of May.

Prior to being terminated by M&T Bank for unrelated reasons in March 2011, Somarriba had been part of the bank's International Trade Finance Division in Baltimore.

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