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The Review October 1, 2013 DIXON | THE CRUNDWELL AFTERMATH
City to recoup $40M City settles out of court with bank, auditors BY DEREK BARICHELLO
DIXON – Mayor Jim Burke said the amount of the settlement speaks for itself. The city of Dixon reached a $40 million out-of-court
settlement with its former auditors and Fifth Third Bank, who the city said were to blame for former Comptroller Rita Crundwell’s theft of nearly $54 million in the past 2 decades. The agreement was reached Saturday following a 17-hour session in Chicago, Burke said. The mayor was speaking about vindication for a City Council that has taken its fair share of blame for the theft, when he said the amount speaks for itself. Of the $40 million, $35.15 million was paid by
CliftonLarsonAllen, the city’s auditor until 2005, $3.85 million by Fifth Third Bank, which handled the city’s checking accounts, and $1 million by Janis Card and Associates of Sterling, which took over the city’s audits in 2005 from Clifton until Crundwell’s arrest. The money is expected to be handed over to the city by the end of the year, Burke said. $40 MILLION
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