![]() ![]() ![]() "It sounds like somebody was asleep at the wheel," he said. …You have to have other evidence," he said.Ĭzurylo, who now does forensic accounting in the private sector, said the huge transfers should have been "the red flag of all time." But auditors are supposed to look more in depth at suspicious items. Sinason said the auditor might have spotted the large transactions but accepted Crundwell's explanations for them. c/o Rita Crundwell." It was from this account that the FBI alleges Crundwell spent more than $30 million in city money over the last six years on her horse business, a luxury motor home and horse trailer, jewelry, and credit card payments. Authorities said she then moved the money into an account that bore both the city's name and "R.S.C.D.A. A close look at even one of the large alleged transfers by Crundwell or the checks she had made out to "Treasurer" should have set off alarms, he said.Ĭrundwell is accused of funneling money from a handful of accounts into the city's Capital Development Fund account, which finances major capital improvements. Mayor James Burke, who has led the city of nearly 16,000 since 1999, said he has scrutinized every year's audit but admitted that he and other city leaders may "have a misconception of what these audits do." He has suggested that the city's other financial problems may have masked the losses caused by the alleged thefts.Ĭalling Crundwell "very crafty," the mayor said, "It seemed like she knew just how to leave enough money in there to keep paying the bills and limping along."ĭavid Sinason, a Northern Illinois University accountancy professor and certified fraud examiner, said that a routine audit is not geared toward catching fraud but that there were enough unusual transactions and such lax financial controls that the auditors or elected officials should have noticed something was amiss. Card, of Sterling, played the far more important role of analyzing them. CliftonLarsonAllen, located in Dixon, just gathered the financial documents, while Samuel S. ![]() Two independent firms were involved in Dixon's annual audit. ![]()
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