Accountant Steals $54m Unnoticed For 20+ Years

Rita Ann Crundwell, born 10 January 1953, served as comptroller and treasurer of Dixon, Illinois, from 1983 to 2012.

Over 22 years, she stole $53.7 million from the city without detection. It remains the largest municipal embezzlement in U.S. history.

*How she did it*  

In 1990, Crundwell secretly opened an account at Fifth Third Bank called the “Reserve Sewer Capital Development Account.” For 22 years, she diverted city funds into it using forged documents and signatures to hide the theft from officials and auditors.

She made 169 transfers, averaging $2.5 million per year.

*How she spent it*  

On an $80,000 annual salary, Crundwell funded a lavish lifestyle. She bought multiple farms, recreational vehicles, custom furniture, 400 horses, and in 2009, a 45-foot luxury motor home worth $2.1 million.

*How she was caught*  

The fraud was uncovered in 2012 when a substitute accountant covered her desk during her vacation and found discrepancies. Mayor Jim Burke called in the FBI. Crundwell was fired and arrested in April 2012.

She pleaded guilty to wire fraud and money laundering. On 14 February 2013, the 60-year-old was sentenced to 19 years and 7 months in federal prison.

Dixon recovered about $40 million by auctioning her assets and settling a lawsuit with the city’s auditors, who had missed the scheme for 22 years.