Embezzling Bookkeeper Lived Lavishly While Town Suffered

Now, Rita Crundwell will serve nearly 20 years in prison

   

Embezzling Bookkeeper Lived Lavishly While Town Suffered

rita crundwell Embezzling Bookkeeper Lived Lavishly While Town SufferedRita Crundwell, the Dixon, Ill., bookkeeper who stole millions from her city, has been sentenced to almost 20 years in prison.

Crundwell was the town bookkeeper when she embezzled nearly $53 million, reports NBC News. She used the money to finance an expensive lifestyle and a company that raised prize-winning horses.

Meanwhile, the town of Dixon — where former president Ronald Reagan lived as a child — couldn’t afford basic items like repairs to company vehicles. City employees went without raises for years, and the town had to finance its spending with $3 million in loans during her time stealing.

Crundwell was caught when a temporary bookkeeper — brought in while she was on a long vacation — discovered her shenanigans. The FBI was called in, and Crundwell was arrested.

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Article printed from InvestorPlace Media, http://investorplace.com/2013/02/embezzling-bookkeeper-lived-lavishly-while-town-suffered/.

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