LIVE VIDEO: NewsChannel 5 at Five    Watch
 

Rita Crundwell scammed $53 million from Illinois city as comptroller

12:44 PM, Nov 14, 2012   |    comments
  • Share
  • Print
  • - A A A +

ROCKFORD, IL (AP) - The top federal prosecutor in northern Illinois says former Dixon comptroller Rita Crundwell's theft of $53 million from the city is "one of the most significant abuses of public trust ever seen in Illinois."

Acting U.S. Attorney Gary Shapiro spoke Wednesday morning inside the federal courthouse in Rockford, where Crundwell changed her plea to guilty. Crundwell is accused of stealing the money over years and siphoning it into a secret account to pay for a lavish lifestyle and horse-breeding operation.

Shapiro says federal authorities believe they have located, seized and are liquidating "virtually every asset" Crundwell owns. So far, Shapiro says, they've been able to raise $7.4 million from auctions. He says he hopes her case is a warning for officials in other municipalities.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Associated Press

Most Watched Videos