₦airaland Forum

Accountant Steals $54m Unnoticed For 20+ Years

Rita Ann Crundwell (born 10 January 1953) was the comptroller and treasurer for the city of Dixon in Illinois, USA, between 1983 and 2012.

Over a period of 22 years, she stole a total of $53.7 million from the city – and no one noticed!

How did she do it?

She secretly opened an account in 1990 with the Fifth Third Bank named “Reserve Sewer Capital Development Account”.

She then transferred money into the account for 22 years, using forged documents and signatures to hide the theft from city officials and auditors.

Over that period, she did a total of 169 transfers averaging $2.5 million per year. It was the worst case of municipal embezzlement in US history.

What did she do with all that money?

Crundwell lived a lavish life which her $80,000 annual salary certainly could not fund.

Owned multiple farms, Recreational Vehicles (RVs), bespoke furniture, 400 horses, and in 2009, even bought a 45-foot luxury motor home worth $2.1 million.

How was she caught?

She was only caught because a substitute accountant covered her desk while she was away on vacation.

After the theft was discovered, the then-Mayor Jim Burke immediately called in the FBI. She was sacked and arrested in April 2012.

She eventually pleaded guilty to wire fraud and admitted engaging in money laundering as part of her plea deal.

Crundwell, 60 years old at the time, was sentenced on 14 February 2013 to 19 years and 7 months in a federal prison.

The city of Dixon managed to recover about $40 million of what Crundwell stole by auctioning off her assets and settling a lawsuit with the city’s auditors, who had missed her embezzlement for 22 years.

source

Oyinbo too dey embezzle


Do the crime
Do the time

What a man can do a woman can do best!!!

okomile:
Oyinbo too dey embezzle


Do the crime
Do the time

It was Oyinbo that started Embezzlement/scam/etc

White people steal but they don't steal like Africans.

I’m reminded of the movie titled “Catch Me if you can” they are the original scammers.. Naija Boys dey learn from these white people.. 😂😂😂😂

She would have continued perpetuating the crime if not for the substitute?

As they say everyday for the thief one day for the owner.

okomile:
Oyinbo too dey embezzle


Do the crime
Do the time

All countries embezzle.

Who them catch be theif.

It is good that the auditing companies also remit money because they failed to do their job for almost 2 decades plus, abi them also collect.

And I am sure it is not only one auditing firm as companies or cities dey get several Audit companies plus their own internal audit self

Oooooh!!!!

The company get enough money be that naa

For them not too notice, for that duration of time😇

The woman na strong woman

Yeah, this story is true. I have once watched the documentary of this lady about 2 years ago.

She lived a decent modest life which it was why, it was extremely hard to smell anything shady for that long.

But when investigation began on her, FBI followed the money trail and realized that she was so rich that she bought lots of horses, had stable for horses and a paddock (field where horses are trained)

For you to afford any of that, you must be extremely RICH by America living standard, that was what blew the case open.

Mirasteel:
White people steal but they don't steal like Africans.

Your inferiority complex choke

New accountant God go punished you,why can't you call her make deal with her that how you will remain poor
Mumu new accountant

A woman with balls.

Imagine if it was a Man...

Women would have condemned him totally..

Corruption doesn't know race, gender or development countries....

okomile:
Oyinbo too dey embezzle


Do the crime
Do the time

na them run am pass oo just that they have a mouth watering yearly Budget going to trillions of dollar unlike our own side with just 35billion dollar yearly Budget and people still want to steal and steal from the meager amount.

No where you can't find corruption.

the only difference is that Nigerians are just wicked people

If she was Nigerian she will almost empty the city's account

It may take America 20 years to discover your fràud, crimes etc, but you will definitely be arrested and account for it by doing jail time, etc

But in Nigeria you will be given presidential handshake and you can even contest for a political post like Yaya Bello😂😂🤌

just look at the yahoo bank name, "fifth third bank"

Watch how some people will use this news to somewhat justify the corruption currently going on across Africa and Nigeria in particular.

Just take a look ad the headline

Now l, imagine the accountant is a Nigerian. You would have heard a Nigerian accountant in USA..

This is to tell you the media is always under the control of some people.

Second biggest fraud after bobo chicago

Some accountants reading this are siphoning company funds a we speak

She enjoyed her life all the while. She fooled auditors and made them look stupid. She just show how easy it is to steal as an accountant. What exposed her was the vacation she went for. If not for the substitute that covered her desk the crime will be left unnoticed

Country with working system and institutions. She was caught even after several years and justice served unlike in Nigeria where people steal and get away with it.

From the comments so far. I found out that evil people want other people to be like them and when you resist, they accuse you of pretence and call you names.

Everyone isn't evil. We are not all the same. "Integrity with principled life" is joy and peace.

Openyamind111:
I’m reminded of the movie titled “Catch Me if you can” they are the original scammers.. Naija Boys dey learn from these white people.. 😂😂😂😂

mad film, that is actually a documentary film of leonaldo DiCaprio and tom hanks

Quelme:
What a man can do a woman can do best!!!

Yes but they don't cover, over here she would be a queen with federal protection.

Swears. If I was the one I'm never going to cast her. Instead make a deal with her and be getting a cut from it.

loadman:
New accountant God go punished you,why can't you call her make deal with her that how you will remain poor
Mumu new accountant

As we de speak, E get people way de siphon money out of company's like this now. No one would like to work for nothing. Everyone wants to live the good life and all other things.

Oyibo too dey run things. But they have more sense of service than the kleptomaniacs we have as leaders here.

okomile:
Oyinbo too dey embezzle


Do the crime
Do the time

Tinubu, as a master strategist knows how to do the crime without doing the time.




https://www.youtube.com/watch?v=7DLrnL6rQ6M?si=uMMUVFfetODTr4Fw

Racoon:
Festus Keyamo Defends Tinubu From Drug Trafficking, Says Tinubu Mistakenly Shared Flats With Drug Lords

The Minister of State for Labour and Employment, Mr Festus Keyamo, has distanced the All Progressive Congress presidential candidata, Bola Tinubu, from being a drug baron who was involved in the traffic of narcotics in the United States.

Keyamo, who also doubles as APC Presidential Campaign spokesperson, noted that the former governor of Lagos State only shared a block of flat with drug barons about 30 years ago in the US.

His reaction is coming following documents of a Chicago District Court indicting and convicting Tinubu of drug dealings and money laundering in 1993.

The document which emerged online two days ago, described APC standard-bearer as a drug baron, adding that Tinubu entered a plea bargain, leading to the forfeiture of his assets to US authorities in 1993

It was also pointed out that Tinubu forfeited the sum of $460, 000 dollars in his bank account at First Heritage Bank to the US government.

Speaking on Wednesday on Channels TV, Mr Keyamo dismissed such claims, insisting that Tinubu was linked to drug peddlers who were his neighbours.

He said: “What happened was that Tinubu went to open an account. The address which he used in opening the account was the address used by these people. I think some blocks of flats. Maybe, he was happy to be in that block of flats too.

“So, they now link it that the other people they were investigating for narcotics are in the same address used by Asiwaju to open that account.’’

https://www.thenigerianvoice.com/?.
 
U.S. court judgement indicts Tinubu for drug trafficking

https://www.google.com/amp/s/businessday.ng/amp/news/article/u-s-court-judgement-indicts-tinubu-for-drug-trafficking/

US Court Releases Documents Linking Tinubu to Largescale Drug Peddling


https://fij.ng/article/us-court-releases-documents-linking-tinubu-to-largescale-drug-peddling/

donleo92:
Oooooh!!!!

The company get enough money be that naa

For them not too notice, for that duration of time😇

The woman na strong woman

It is not a company, it is a local council authority