Restitution Money From Crundwell Released To Dixon - News and Weather For The Quad Cities -

Restitution Money From Crundwell Released To Dixon

Updated: Dec 19, 2013 03:22 PM
Crundwell motorhome interior. Crundwell motorhome interior.
Crundwell motorhome exterior. Crundwell motorhome exterior.
Former Dixon Comptroller, Rita Crundwell. Former Dixon Comptroller, Rita Crundwell.
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The U.S. Marshals Service announced that is has transferred $9.2 million to the U.S. District Court in the Northern District of Illinois as of Dec. 13, 2013. The funds will be applied to the restitution ordered by the court to be paid to the City of Dixon in the Rita Crundwell fraud case.

According to a news release, the money comes from federal seizure and forfeiture of Crundwell's assets, which included bank accounts, five real properties, a luxury motorhome, more than 400 quarter horses, jewelry and other personal assets. The sale of more than 500 assets brought in about $12 million with over about $1.8 million in expenses. The clerk of court will issue the restitution payment to the city of Dixon.

Crundwell, 60, was one of the leading breeders of quarter horses in the U.S. She was accused of embezzling $53 million from the city over more than 20 years. She pleaded guilty to a federal fraud charge in 2012 and was sentenced to nearly 20 years in prison. She is serving her sentence at Federal Correctional Institution Waseca in Minnesota with a scheduled release date in 2030.

Final figures related to assets seized from Crundwell are as follows:

$12,216,447.05 - Total income

$ 1,169,115.80 - Total court-ordered claims

$ 1,832,682.34 - Total expenses

$ 9,214,648.91 - Net proceeds

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More information on the Crundwell fraud case: Http://www.justice.gov/usao/iln/pr/rockford/2013/pr0214_01.html

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