Did the bank look the other way?
DIXON – Had Fifth Third Bank’s predecessor flagged two fishy cash withdrawals Rita Crundwell made more than a decade ago, it could have saved the city $40 million of the $54 million she swiped, the city’s attorney says.
Court documents filed last week show the former comptroller was allowed to withdraw cash straight from Dixon’s capital development fund at the bank at least twice; the total was more than $38,000.
Crundwell is serving nearly 20 years in prison for federal wire fraud. It took her 22 years to perpetrate what appears to be the largest municipal theft in U.S. history.
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