Former high-profile Quarter Horse breeder Rita Crundwell will serve nearly 20 years in federal prison for embezzling $53 million from the coffers of Dixon, Ill.

In April 2012, a federal grand jury in Illinois indicted Crundwell for allegedly misappropriating $53 million in funds from the city of Dixon, Ill., where she had served as comptroller since the 1980s. Federal law enforcement agents later arrested Crundwell and charged her with one count of wire fraud.

A federal court judge later placed more than 400 horses forfeited by Crundwell in connection with the case in the custody of the U. S. Marshals Service. The horses, along with stallion semen, equestrian trailers and other equipment, a luxury motor home, real estate, and furnishings, were later sold during online and live auctions.

Crundwell initially pleaded not guilty to the wire fraud charge. However on Nov. 14, 2012, Crundwell appeared in U.S. District Court in Rockford, Ill., and changed her plea to guilty under a plea agreement. Under the agreement, Crundwell admitted to stealing more than $53 million from the city of Dixon, Ill., and using it to finance her Quarter Horse breeding business, horse show appearances, and other equestrian activities. Under the deal, she also admitted that she engaged in illegal money laundering in connection with the embezzlement. Also under terms of the deal, Crundwell agreed that she owes restitution to the city of Dixon totaling $53,740,394, minus any credit for funds repaid prior to sentencing