Indictment: Crundwell Defrauded $53M Since 1990; Has 311 Horses

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Indictment: Crundwell Defrauded $53M Since 1990; Has 311 Horses

SaukValley.com

Published 05/01/2012 - 3:30 p.m. CDT

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Crundwell's Florida property at 821 E. Fifth St. in Englewood, FL. (Courtesy Google/Google Street View)

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DIXON – The top financial officer for the city of Dixon defrauded the city out of $53 million, a grand jury indictment released this afternoon charges.

Rita A. Crundwell, 58, of Dixon, was arrested April 17 at Dixon City Hall on a single charge of federal wire fraud. She has since been released, but today prosecutors filed a grand jury indictment, making more details public for the first time.

Also today, the U.S. District Court released the federal government's application for a post-indictment restraining order on Crundwell's rural Dixon properties.

According to the application, Crundwell owns 311 horses – approximately 204 are located at the two Dixon, IL properties, 47 located in Beloit, WI and the remaining 60 spread around the country at various breeders and trainers.

Click here to see complete list of horses and locations

Click here to view the 9-page federal indictment

Click here to view the 6-page post indictment restraining order application

Click here to view the rest of the story from saukvalley.com

Rita Crundwell Arrested for Fraud; Free on $4,500 Bond

Feds Release Detailed Crundwell Search Warrants

24 comments for this article

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Added: May 02, 2012. 10:11 AM CDT

@Friends

"friends???
Wonder how many she has now. I hope they put her under the jail. I always thought it was so arrogant the way the trainers lined up with her horses at the big shows. Wives were there, too, holding her different jackets and numbers."

Yes and how sickening it was that so many people boasted about rubbing elbows with her at shows and lining up in her win photos. Bet they are feeling pretty foolish now.

TTT

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Added: May 02, 2012. 09:56 AM CDT

Horse world

The horse world to most of us in dixon is unknown. We were all under the impression she made all the money in the horse world. We now know different of course...but what did she tell the people in the horse world? Obviously they all knew she didn't make that kind of money, so what was her story to them? And I don't understand if the city had no money for anything and budgets were being cut drastically, how could the city council vote her a 4 thousand dollar a year rais every year for the past 8 years!

Baffled

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Added: May 02, 2012. 09:55 AM CDT

friends???

Wonder how many she has now. I hope they put her under the jail. I always thought it was so arrogant the way the trainers lined up with her horses at the big shows. Wives were there, too, holding her different jackets and numbers.
She has done so much harm to little guys who try, and now our horses are so devalued because everyone thinks they can go to the sale and get a great one cheap. Which, of course, they can.
Also, the government is going to lose a ton of money on these things. They have no idea how expensive horses are. The best thing for the feds to do is sell them asap.

on the outside looking in

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Added: May 02, 2012. 08:21 AM CDT

Really?

She could not have produced "awesome show horses" without the money she stole. Those of us who bust our humps to feed and show our horses the right way have no chance to win against people like this. They go to any lenghts to win. She not only owes the people she stole from, but the people she showed against with horses that really did not belong to her.

Chili

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Added: May 02, 2012. 07:23 AM CDT

Raise Hell

I think she should be stripped of any and all wins from the books. Doing it with money that she had stolen has to warrant some kind of action. Take the one thing that she still has pride in. Her name in the Show community!

Stir The Pot

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Added: May 02, 2012. 07:09 AM CDT

Chip Numbers?

Does that list mean these horses had micro chips implanted in them? Did Rita really have all her horses chipped before she got busted? Why would you chip a horse you bought with stolen money? You worried someone someone is going to steal them? I suppose she had them insured too? LOL

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Added: May 02, 2012. 06:31 AM CDT

Bullhockey

"She (Rita) was defiantly on the top rungs of the ladder, produced some awesome show horses, and that, you can't take away from her.....it's just the way she went about it was so wrong."

Big deal. Which one of us COULDN'T produce amazing horses with $53 mil in stolen cash?!

TTT

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Added: May 02, 2012. 06:28 AM CDT

Outrageous

"The damage that she has done is unbelivable."

Yeah, all that for "fame & fortune" in a horse show ring. It's no better than what Madoff did and in some ways even worse since there are now hundreds of animals that are the innocent victims of the narcissistic greed. Anyone that defends this individual's actions is lacking as much integrity as she is. $53 million dollars. Why is this woman out of jail and not under house arrest?

TTT

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Added: May 01, 2012. 09:42 PM CDT

day to day

In any situation where the government or banks have to step in and there is livestock involved there are monies set aside to maintain care until it be desolved.

BuckiesRBest

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Added: May 01, 2012. 07:28 PM CDT

Imagine the dept that will amount now for the care of these animals and the facilities. It could take up to year before they even bring her to trial. Who will care for these animals? Who will assume the financial responsibility for them? Trainers, workers, shoers, vets, feed mills, hay suppliers, these people can not wait for payment until it is settled, where is this money going to come from? Not to mention the unpaid bills. The damage that she has done is unbelivable.

Such a sad thing to happen

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