A small city in the Chicago area has filed suit against an accounting firm that overlooked the embezzlement of over $50 million by the town’s former treasurer and controller.
Former Dixon, Ill., treasurer and controller Rita Crundwell was charged last month with allegedly siphoning $53 million from the town since 1990 into a secret bank account under her control, and spending the money on her horse ranch and lavish lifestyle.
The city of Dixon, with a population of about 16,000 residents, filed suit against the CPA firm, Janis Card Co., which had audited the town’s books on an annual basis, according to the
The firm declined to comment when contacted by Accounting Today.
