So they were the ones that paid most of the 35 million as the auditor was local and had limited liability insurance. I often wondered under SSARS 21 if they would have been liable. Clifton Larsen has been active in that area for years and has worked closely with the AICPA pushing " Inacct" software and client services at National AICPA Seminars. In those two decades she stole over 53 million from a city of less than 16,000 people. The big loser was Clifton Larsen CPA's who felt they were not independent because they were doing too much non attest services and dropped the audit many years ago many years before the defalcation and did what we refer to now as CAS client advisory service -basically doing a compilation service not an audit. Rita Crundwell had first opened the fictional account in 1990, meaning that she had successfully stolen from the city for 22 years before being arrested. ![]() ![]() So spent a lot to time in Dixon over the years. Years and years ago I drove from my home in Northern Illinois on my way to Luther College in Decorah Iowa, we picked up a fellow student at Dixon who parent's owned a resort hotel and restaurant called Maxim Manor on the River. #crime #newsworthy #news #fraud #theft #prison #controls #goverment #illinois #city #dixonillionois #comptroller #audits #failure #malpractice #independence #parole #earlyrelease #excon #horses #redflags #lifestyle > Ex-Dixon Comptroller Released From Prison Halfway Through Sentence for Embezzling Nearly $54M.> Former Dixon comptroller Rita Crundwell released from prison 8 years early.Watch news clips roughly 2 minute videos about Crundwell's release. ![]() Watch Bruce's 45 minute presentation at City Club of Chicago explaining how she stole the money and how the auditors were negligent, complete with charts and tables.The city's attorney Devon Bruce, Partner, Power, Rogers & Smith, sued and recovered $50 million, including $35 million from the city's auditors, and $5 million from the bank where she deposited at least some of the stolen money. Rita Crundwell, the former comptroller of Dixon, didn’t take the money from a giant corporation or engage in tax fraud.The last couple years she stole more than the police and fire department payroll - COMBINED.The city had $10 million annual operating budget.Don't take this to the bank but to best of my recollection. If you see any reports WHY Crundwell was released, let me know at the only speakers bureau for white collar criminals. (AP) A woman convicted of embezzling 54 million in public funds has been transferred to a federal prison in her home state of Illinois.
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