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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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