A north-central Illinois city whose former comptroller embezzled almost $54 million is suing its longtime accounting firm for failing to detect the fraud while auditing the city's books.
Rita Crundwell pleaded guilty and is scheduled to be sentenced next week. Authorities say the scam lasted 20 years and enabled Crundwell to build a world-renowned quarter horse breeding operation.
Crain's Chicago Business reports that Dixon officials are suing the firm of CliftonLarsonAllen, claiming it missed red flags such as bogus invoices. The lawsuit seeks compensation for the entire loss.
The lawsuit says the firm audited Dixon's books and performed other duties such as check processing while its personnel prepared Crundwell's tax returns.
The firm tells Crain's that it wasn't required to do testing that might have uncovered the fraud.
Thursday, May 16 2013 9:49 PM EDT2013-05-17 01:49:53 GMT
Mayor Emanuel will celebrate two years in office by unveiling "Elevate Chicago" on Thursday, a series of construction projects to improve Navy Pier and McCormick Place.
Mayor Emanuel will celebrate two years in office by unveiling "Elevate Chicago" on Thursday, a series of construction projects to improve Navy Pier and McCormick Place.
Saturday, May 18 2013 11:26 PM EDT2013-05-19 03:26:02 GMT
Seven juveniles were arrested Saturday night after police responded to groups of teens running through traffic around North Michigan Avenue on the Gold Coast.
Seven juveniles were arrested Saturday night after police responded to groups of teens running through traffic around North Michigan Avenue on the Gold Coast.
Saturday, May 18 2013 10:12 PM EDT2013-05-19 02:12:56 GMT
Three men were killed and at least 10 other people were hurt -- including a 12-year-old boy left in critical condition -- in shootings around the city since Friday night.
Three men were killed and at least 10 other people were hurt -- including a 12-year-old boy left in critical condition -- in shootings around the city since Friday night.
Friday, May 17 2013 10:37 PM EDT2013-05-18 02:37:06 GMT
On Friday, the current Chicago Teacher's Union President Karen Lewis announced that she has been re-elected and says she won with 80 percent of the vote.
On Friday, the current Chicago Teacher's Union President Karen Lewis announced that she has been re-elected and says she won with 80 percent of the vote.
Saturday, May 18 2013 10:12 PM EDT2013-05-19 02:12:56 GMT
Three men were killed and at least 10 other people were hurt -- including a 12-year-old boy left in critical condition -- in shootings around the city since Friday night.
Three men were killed and at least 10 other people were hurt -- including a 12-year-old boy left in critical condition -- in shootings around the city since Friday night.
Friday, May 17 2013 4:20 PM EDT2013-05-17 20:20:58 GMT
A man who tried to rob three women with a knife in the River North area Thursday night was apprehended by police who spotted him downtown soon after the crimes.
A man who tried to rob three women with a knife in the River North area Thursday night was apprehended by police who spotted him downtown soon after the crimes.
Friday, May 17 2013 2:59 PM EDT2013-05-17 18:59:20 GMT
A 15-year-old boy was killed in a shooting Thursday night in the Auburn Gresham neighborhood, authorities said. The shooting happened about 9 p.m. in the 8600 block of South Ashland Avenue, according to
A 15-year-old boy was killed in a shooting Thursday night in the Auburn Gresham neighborhood, authorities said.
Friday, May 17 2013 2:44 PM EDT2013-05-17 18:44:24 GMT
Police in northwest suburban Park Ridge say a 63-year-old Chicago man conducted a fictitious business that defrauded people in at least four states and they are now looking for additional victims.
Police in northwest suburban Park Ridge say a 63-year-old Chicago man conducted a fictitious business that defrauded people in at least four states and they are now looking for additional victims.
Friday, May 17 2013 12:51 PM EDT2013-05-17 16:51:42 GMT
Police are warning businesses in the River North area of a spate of burglaries, mainly at night, over the past couple weeks, including one night this week when businesses were targeted.
Police are warning businesses in the River North area of a spate of burglaries, mainly at night, over the past couple weeks, including one night this week when businesses were targeted.
