3/25/2023 0 Comments Rita crundwellSo they were the ones that paid most of the 35 million as the auditor was local and had limited liability insurance. It also requires Business Ethics in the Real World City of Dixon Saved by Whistle-Blower Rita Crundwell was the trusted treasurer of the small city of Dixon. Many of the sale horses have gone on to win more Congress and World Championships while some, unfortunately, are no longer. I often wondered under SSARS 21 if they would have been liable. Rita Crundwell was sentenced one year ago this week and GoHorseShow was curious what has happened to several of the high profile horses that were sold in the online and live auctions that were held in September of 2012. 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. 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. 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.She embezzled money that belonged to every single resident of Dixon. directed a riveting documentary, All the Queens Horses, about Rita Crundwells historic 53 million embezzlement from the city of Dixon, Illinois. > Former Dixon comptroller Rita Crundwell released from prison 8 years early Rita Crundwell, the former comptroller of Dixon, didn’t take the money from a giant corporation or engage in tax fraud.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.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.
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