CliftonLarsonAllen Settles with Dixon for $36 Million Over Crundwell Fraud

In addition to CLA coughing up their share, Fifth Third Bank will pay $3 million, and the city's auditor Sam Card will pay $1 million for a nice round sum of $40 million total, according to Saukvalley.com

CLA provided us with a statement from CEO Gordon Viere:

The allegations of fraud committed by City of Dixon Comptroller Rita Crundwell, some of which she pled guilty to, are extremely serious and present an opportunity for all affected parties to evaluate how they occurred. We believe there was a shared responsibility that resulted in Ms. Crundwell’s fraud continuing undetected, and the right thing to do is reduce the harm experienced by the taxpayers of Dixon and put this matter behind us. Reaching a fair settlement for taxpayers is important to CliftonLarsonAllen.
In addition, Dixon will receive about $10 million from the sale of Mrs. Ed's assets, putting the total recovery effort within a stone's throw of the $54 million she stole. So that really wasn't so bad, was it? 
 
 
[SV]

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