Former Dixon Comptroller Rita Crundwell has admitted to stealing millions of dollars from the town. The 59-year old entered her guilty plea of wire fraud yesterday morning in Rockford federal court saying she took 53 million dollars from the City of Dixon since 1990.
Crundwell used the cash to fund a lavish lifestyle and to raise horses. She was arrested in April of this year following an FBI investigation.
Her horses have been sold during an auction along with much of her property.
Crundwell returns to federal court on February 14th of next year for her sentencing hearing. She could face up to 20 years in prison and a fine that could reach $250,000.
Crundwell has also been indicted on 60 counts of theft by Lee County Officials. The transactions took place between January of 2010 and April of 2012 that totaled more than 11 million dollars.
Prior to her arrest, Crundwell was 1 of the leading breaders of quarter horses in the United States.
She remains out of jail following the posting of bond.
An auction will take place in the future involving 5 properties Crundwell owns. They include Dixon and Florida.
Authorities also plan to sell items from her Dixon home at a later date.