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.
Wednesday, May 22 2013 7:03 PM EDT2013-05-22 23:03:10 GMT
The Chicago Board of Education made its final decision Wednesday afternoon - to close 48 Chicago Public Schools in June, with one school delayed a year and to save five others.
The Chicago Board of Education made its final decision Wednesday afternoon - to close 48 Chicago Public Schools in June, with one school delayed a year and to save five others.
Wednesday, May 22 2013 6:45 PM EDT2013-05-22 22:45:07 GMT
Illinois public schools that teach sex education will have to include information about contraception and sexually transmitted diseases instead of a curriculum focused on abstinence.
Illinois public schools that teach sex education will have to include information about contraception and sexually transmitted diseases instead of a curriculum focused on abstinence.
Wednesday, May 22 2013 5:50 PM EDT2013-05-22 21:50:46 GMT
The attorney for an 87-year-old woman who accuses Donald Trump of cheating her in a skyscraper condo deal told Chicago jurors on Wednesday that the "Apprentice" star lied on the witness stand.
Jurors have withdrawn to begin deliberations about whether Donald Trump cheated an 87-year-old who claims the "Apprentice" star cheated her in property deal.
