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.
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, February 5 2013 3:09 PM EST2013-02-05 20:09:54 GMT
Millions and millions of people tuned in to watch the Super Bowl, and including our friends serving overseas. Thousands of Chicago-style pizzas were sent overseas Tuesday.
Millions and millions of people tuned in to watch the Super Bowl, and including our friends serving overseas. Thousands of Chicago-style pizzas were sent overseas Tuesday.
Thursday, May 23 2013 8:32 PM EDT2013-05-24 00:32:17 GMT
A couple accused of murdering a 1-month-old boy and allegedly dumping the body in the Des Plaines River pleaded not guilty to the crime during a Thursday court hearing in Maywood.
A couple accused of murdering a 1-month-old boy and allegedly dumping the body in the Des Plaines River pleaded not guilty to the crime during a Thursday court hearing in Maywood.
Thursday, May 23 2013 8:06 PM EDT2013-05-24 00:06:33 GMT
As the country looks at the relief efforts in Oklahoma, Illinois is training for the same kind of disaster. The Illinois National Guard prepares every year for disaster events.
As the country looks at the relief efforts in Oklahoma, Illinois is training for the same kind of disaster. The Illinois National Guard prepares every year for disaster events.
Thursday, May 23 2013 4:46 PM EDT2013-05-23 20:46:28 GMT
Thieves have struck a Streeterville area construction site a handful of times over the past week, taking tools and construction materials, police said.
Thieves have struck a Streeterville area construction site a handful of times over the past week, taking tools and construction materials, police said.
Thursday, May 23 2013 4:36 PM EDT2013-05-23 20:36:47 GMT
The Obama administration has picked a private attorney and former federal prosecutor to head the U.S. attorney's office in Chicago, U.S. Sen. Dick Durbin announced Thursday.
The Obama administration has picked a private attorney and former federal prosecutor to head the U.S. attorney's office in Chicago, U.S. Sen. Dick Durbin announced Thursday.
