Download Draining Dixon. How Rita Crundwell Embezzled More Than $50 by Chicago Tribune PDF

By Chicago Tribune

Draining Dixon is the true-life account, as recorded by way of the award-winning employees of the Chicago Tribune, of the Dixon, Illinois, comptroller who embezzled over $50 million from municipal coffers in the course of a twenty-year profession in neighborhood executive.

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Extra info for Draining Dixon. How Rita Crundwell Embezzled More Than $50 Million from Her Illinois Town

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The local bank didn’t alert the mayor about a city bank account listed in the care of Crundwell, according to federal charges. An annual audit didn’t send up red flags about the alleged transfers of hundreds of thousands of dollars at a time into and out of the account. City officials didn’t monitor the books closely enough to notice that huge amounts of tax dollars were disappearing, according to the charges. Crundwell, a longtime, trusted employee, had a virtual stranglehold over city finances.

S. Marshals Service is now overseeing the care of more than 300 horses that she boarded around the country. The government has said it plans to eventually sell the horses and other seized property in order to return some of the funds Dixon lost. Experts have said they believe numerous safeguards broke down in Dixon — annual audits and local banks didn’t send up red flags, city officials didn’t notice tax dollars disappearing and the city’s lack of checks and balances gave Crundwell almost complete control over the city’s purse strings.

Marshals Service, according to the agency. The 2009 Liberty Coach motor home is the first of Crundwell’s assets to be put up for auction in a sealed-bid sale by the agency. m. Aug. 1, the Marshals Service said in a news release Friday. Public viewings will be available July 23 and July 27 by appointment only. Crundwell, Dixon’s treasurer and comptroller since 1983, was arrested in April on federal charges she had misappropriated more than $30 million since mid-2006. In May, Crundwell was formally indicted, and authorities alleged the thefts went back nearly 22 years and totaled in excess of $53 million.

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