Illinois city ex-CFO pleads not guilty to taking $53 million

May 7, 2012

The Associated Press

(AP/File)

A woman has pleaded not guilty to charges that allege she stole more than $53 million from the Illinois community whose finances she oversaw for decades.

Former Dixon financial officer Rita Crundwell pleaded not guilty to wire fraud in a Rockford courtroom on Monday. She will be represented by public defenders.

Prosecutors contend that Crundwell had been transferring Dixon's money to a secret account since at 1990 and using the money to create one of the nation's leading horse-breeding operations and buy luxury homes, cars and jewelry.

Crundwell and attorney, Paul Gaziano, refused to comment on the case.