Monday, October 7, 2013

Dixon, Illinois gets $40 million back from Rita Crundwell and her Accountants

Most thieves fail because of the small scope of their operation and a failure to understand cost-benefit analysis. The 70 year cancer victim who steals $100 dollars worth of cosmetics from a high end shopping store gets arrested the City Treasurer who steals $54,000,000 million well she lives a life of leisure for 25 years.

But, how does the Big Thief get away with it? The best Thieves have accountants.

Rita Crundwell, who stole over $54,000,000 over 20+ years from the People of Illinois, Village of Dixon was able to accomplish her theft with the aid of Fifth/Third Bank, the auditing firm of Clifton Larson Allen and the accounting firm Janis Card Associates.

Her lavish lifestyle was funded by falisfied secret bank accounts at the local Fifth Third Bank branch to which she funnelled the most thinly disguised checks and a two decade long papertrail of fake invoices. The auditors never took steps to verify the invoices or doing basic accounting work for over 20 years. 

Additionally, for the past two decades, the same auditors reviewing Dixon's City finances were also preparing Crundwell's personal tax returns.

Worst of all, the Vultures who steal billions from the American people get to live rich, full, healthy, decadent lives, attend parties, enjoy vacationing in exotic lands and demand to be lauded as the Princes of Finance and Titans of American Success.

The City of Dixon has agreed to a $40 million dollar settlement with the Banks and Auditing firms. 

Samuel Card (owner of Janis Card) will pay a court settlement of $1,000,000. Fifth Third will pay $3,850,000 and Clifton Larson Allen is responsible for the bulk of the settlement at $35,150,000.

Fifth Third was able to get away without "any admission of liability".

"All parties agree that it was in the best interest of the parties, as well as the citizens of Dixon, to bring this matter to an end," said Tom Falkenberg, attorney for Samuel Card and his firm, who also denied any wrongdoing.

Additionally, the City of Dixon was also able to get back $10,000,000 from the sale of Rita Crundwell's purloined belongings, though that was negated by the legal fees the City incurred.

This Thursday, Oct. 10th, the Village residents will get to voice their opinion on the spending of the recovered $40 million at a Townhall meeting.

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