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Published August 12, 2013, 02:38 PM

Former Minot loan officer sentenced to 15 months

FARGO, N.D. (AP) — A former Minot bank loan officer accused of helping companies obtain millions of dollars in bogus loans has been sentenced to more than a year in prison.

FARGO, N.D. (AP) — A former Minot bank loan officer accused of helping companies obtain millions of dollars in bogus loans has been sentenced to more than a year in prison.

Howard Palmer pleaded guilty in December to bank fraud and false entry in bank records. He was originally charged with 22 counts.

Palmer was a vice president for the Minot branch of American State Bank and Trust of Dickinson. Authorities say he lied to a committee about various loan applications, including a $2.5 million loan for a Florida company.

His lawyer says Palmer didn't benefit financially from the loans.

U.S. District Judge Daniel Hovland on Monday sentenced Palmer to 15 months in prison and ordered him to pay back more than $2.7 million.

Lawyers in the case were not immediately available for comment.

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