Crundwell horses, equipment fetch more than $4 million

UPDATE: The Chicago Tribune reports:

“More than 300 horses as well as equipment and vehicles from indicted former Dixon Treasurer Rita Crundwell’s world-class operation sold for $4.79 million at an auction this week amid a crowd of eager horse enthusiasts from around the world and curious natives of the small northwestern Illinois town.” If you are really interested in this story, there’s loads more information, including a video and lots of photos here.

Rita Crundwell Quarter Horses. Photo by Alex Garcia, Chicago Tribune. — PHOTO CREDIT: ALEX GARCIA, CHICAGO TRIBUNE
Auctions contracted by the federal government of indicted Dixon, Illinois treasurer Rita Crundwell Quarter Horses and equipment bring in more than $4 Million.

PAT RAIA writing for TheHorse.com reports:

Horses, tack, trailers, and other equipment belonging to indicted Quarter Horse breeder Rita Crundwell brought more than $4 million during a two-day live auction in Dixon, Ill.

Earlier this year, a federal grand jury in Illinois indicted Crundwell for allegedly misappropriating $53 million in funds from the town of Dixon, Ill., where she had served as comptroller since the 1980s.

Following the arrest, a federal court judge placed more than 400 horses connected to the case in the custody of the U.S. Marshals Service. Professional Auction Services Inc. was later hired to carry out the sale of the horses and related equipment at auction.

If convicted, Crundwell could face maximum penalties of up to 20 years in prison and a $250,000 fine, or an alternate fine totaling twice the cost of the loss or twice the gain, whichever is greater.