Dixon, Illinois City Commissioners Beat a Dead Horse After CFO’s Arrest

Last week we learned that the CFO/comptroller/treasurer for the city of Dixon, Illinois, Rita Crundwell, was arrested for allegedly stealing $30,236,503 and 51¢. She also stands accused, in the court of public opinion, of having awful taste in automobiles, as federal agents seized a Ford Thunderbird upon her arrest. 

Regardless, these allegations came as a surprise to the sleepy Illinois town because usually everyone knows everyone's business in a small town (legal, illegal, and otherwise) and you'd think that a town on a budget of approximately $8 million would, ya know, miss that money. Anyhoo, after Ms. Crundwell's arrest, she was put on administrative leave without pay, but it didn't take long for inevitable to happen:

Crundwell […] submitted a letter of resignation over the weekend citing a federal court order that she not hold a position involving fiduciary responsibility, according to Ron Coplan, an attorney for the city. 
Seems like the natural order of things, really. However, the City Commissioners for Dixon decided that such weighty charges demanded additional action:
Commissioners still voted to terminate Crundwell for falsifying city records, misconduct, criminal conduct and misappropriation of city funds.  
The kill shot, in a manner of speaking.
 

Related articles

acfe global fraud conference

5 Crazy Fraud Stories You Would Never Believe (If They Weren’t True)

From Russian government assassinations to multimillion-dollar blood-testing scams, there’s never a shortage of surreal fraud stories to rock the financial industry each year. And each year, the Association of Certified Fraud Examiners (ACFE) hosts the ACFE Global Fraud Conference to bring to life these hardly believable (yet true) financial cases by way of those who […]

auditor fraud pwc colonial fdic

Accounting Fraud Watch: Samsung Bioepis, Celadon Group, More on BT Italy

Catching you up on the latest fraud happenings in the world of accounting. Two Samsung employees arrested over alleged cover-up [Financial Times] Two executives of Samsung’s biopharmaceutical unit were arrested earlier this week on suspicion of destroying evidence to cover up an alleged $3.9 billion accounting fraud. The Seoul Central District Prosecutors’ Office in South […]