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 >>