Dixon to Recoup $40 Million After Crundwell Thefts

Federal officials have raised about $10 million so far selling Crundwell's belongings

Thursday, Sep 26, 2013  |  Updated 4:48 PM CDT
View Comments (
)
|
Email
|
Print
Dixon to recoup $40 million of the $53 million in public money stolen by former comptroller Rita Crundwell.

Dixon to recoup $40 million of the $53 million in public money stolen by former comptroller Rita Crundwell.

Photos and Videos

Crundwell Gets 19.5 Years in $53M Scam

Former Dixon, Ill., comptroller pleaded guilty to stealing $53 million from taxpayers and pocketing the money for her own use. Kim Vatis reports.

Crundwell 'Betrayed Her Whole Community'

Residents of west suburban Dixon react to the nearly 20-year sentence handed down to Rita Crundwell Thursday for stealing $53 million from taxpayers.
More Photos and Videos

The city of Dixon will recoup about $40 million of the $53 million in public money stolen by former comptroller Rita Crundwell.

Dixon Mayor Jim Burke said Wednesday that the city has settled a lawsuit with auditors and a bank in connection with Crundwell's thefts. Crundwell is serving nearly 20 years in federal prison. Authorities say she stole the money over more than 20 years, spending it on a lavish lifestyle and horse-breeding operation.

Burke says the settlement is for $40 million. Federal officials have raised about $10 million so far selling Crundwell's belongings. That means $50 million for the city, minus $10 million in expenses, or about $40 million in restitution.

The city's attorneys say both sides have agreed to the settlement, which is pending approval by a judge.
 

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
Get Our Weather App
Stay ahead of the storm with the NBC 5... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out