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Dixon Approves Huge Settlement After Crundwell Theft

Posted by wlpo on October 16, 2013

DIXON, Ill. (AP) – Officials in Dixon have approved a $40 million settlement with the city’s auditors and a bank for former Comptroller Rita Crundwell’s theft of nearly $54 million in city funds.

Mayor Jim Burke last night signed several copies of a document finalizing the settlement with auditors CliftonLarsonAllen, Janis Card and Associates, as well as Fifth Third Bank.

Of the $40 million, $35 million was paid by CliftonLarsonAllen. As part of the agreement, the city will file no further lawsuits against the defendants or their representatives.

According to the settlement, payments to the city are expected to be paid in full Dec. 1.

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