(HAT TIP WIKI) Rita A. Crundwell (born January 10, 1953) was the appointed comptroller and treasurer of Dixon, Illinois, from 1983 to 2012, and the admitted operator of what is believed to be the largest municipal fraud in American history. She was fired in April 2012 after it was revealed that she had embezzled $53.7 million from the city over 22 years.
HOW SHE DID IT--
<><>(A) On December 8, 1990; Crundwell opened a secret bank account---she named it named RSCDA (Reserve Sewer Capital Development Account), making it appear to be a city account. Crundwell was the only signatory to the sewer account.
<><>(B) She would have incoming city money deposited into an account called the Capital Development Fund (CDF).
<><>(C) She would then create false invoices, monies she falsely claimed the city owed the state.
<><>(D) She would then write checks to pay the "bills" from the CDF payable to “Treasurer,”
<><>(E) She would deposit the checks into the phony RSCDA account for her personal use later.
According to federal investigators, this relatively uncomplicated scheme continued for 22 years.