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.
Monday, February 25 2013 1:41 PM EST2013-02-25 18:41:37 GMT
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Tuesday, May 21 2013 11:35 AM EDT2013-05-21 15:35:03 GMT
Search-and-rescue crews worked through the night after a tornado barreled through the Oklahoma City suburbs. At least 24 people were killed, including nine children. Those numbers were expected to climb.
Search-and-rescue crews worked through the night after a tornado barreled through the Oklahoma City suburbs. At least 24 people were killed, including nine children. Those numbers were expected to climb.
Tuesday, May 21 2013 9:21 AM EDT2013-05-21 13:21:08 GMT
Every time a tornado makes news, the local public cannot help but think about what happened in this area, back in 1967. A destructive storm system hit the southwest suburbs 46 years ago.
Every time a tornado makes news, the local public cannot help but think about what happened in this area, back in 1967. A destructive storm system hit the southwest suburbs 46 years ago.
Monday, May 20 2013 8:33 PM EDT2013-05-21 00:33:23 GMT
A Merrillville police officer shot a man Monday afternoon when the two got into a fight in the parking lot of the Merrillville Planned Parenthood office.
A Merrillville police officer shot a man Monday afternoon when the two got into a fight in the parking lot of the Merrillville Planned Parenthood office.
Monday, May 20 2013 5:52 PM EDT2013-05-20 21:52:14 GMT
Gov. Pat Quinn said Illinois lawmakers have a chance to make history on two fronts this month by approving a plan to fix the state's decades-old pension crisis and legalizing same-sex marriage.
Gov. Pat Quinn said Illinois lawmakers have a chance to make history on two fronts this month by approving a plan to fix the state's decades-old pension crisis and legalizing same-sex marriage.
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