Rita Crundwell Quarter Horses. Photo by Alex Garcia, Chicago Tribune.

First of indicted Dixon treasurer’s horses bring $1.64M in online auction

Rita Crundwell Quarter Horses. Photo by Alex Garcia, Chicago Tribune.
PHOTO CREDIT: ALEX GARCIA, CHICAGO TRIBUNE
An online auction contracted by the federal government of indicted Dixon, Illinois treasurer Rita Crundwell’S Quarter Horses brings in $1.64M. Crundwell is accused of embezzling $53M over several decades.

by MELISSA JENCO

Cross-posted from Chicago Tribune

About 80 horses once owned by indicted former Dixon Treasurer Rita Crundwell brought in $1.64 million this week at an online auction, money that ultimately could go to the northwestern Illinois city’s coffers to offset the huge losses from her alleged fraud scheme.

The horses sold for a wide range — from a low of $1,050 to a high of $226,000, which set a record for the Virginia business that conducted the auction.

Crundwell had developed a championship quarter horse breeding operation on her sprawling Dixon ranch that federal authorities allege was financed by decades-long thefts totaling $53 million, a stunning loss for a small town best known as the boyhood home of President Ronald Reagan.

Another 300 of Crundwell’s quarter horses will be auctioned off at her Dixon ranch later this month. Read full report >>