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Woman Sentenced After Enmbezzling $1 Million From Bank

Last updated on Thursday, October 31, 2013

(SOUTH BEND) - A former loan official at a northern Indiana bank has pleaded guilty to federal charges of embezzling about $1 million by approving illegal loans to herself.

A federal judge sentenced 43-year-old Connie Horvath on Tuesday to 33 months in prison and pay nearly $250,000 in restitution on a charge of bank fraud.

Court documents say Horvath wrote a $590,000 bogus loan in early 2012 so that she and her boyfriend could buy a lake home in Michigan. Other loans she made included $200,000 to pay off debt on a timeshare villa in Mexico.

WNDU-TV reports Horvath made a tearful apology for her actions while working at MutualBank's Goshen office. She asked the judge to minimize her punishment's effects on two young children she adopted from Ethiopia.

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