Washington – The U.S. Marshals Service entered into contracts totaling more than $3 million with buyers Monday on the sale of three of five real properties titled to Rita Crundwell, the former comptroller of Dixon, Ill., who pleaded guilty to a federal charge of fraud in November.
U.S. Marshals received unsolicited offers totaling $1.69 million on three parcels of real estate in October. The Marshals announced the unsolicited offers and provided a process to receive counteroffers. A total of 13 offers were received. The same buyer is not under contract for more than one parcel. The Marshals do not release individual parcel sale contract prices or the identity of buyers. This information will become public at the time of title transfer through the offices of the Lee County, Ill., Clerk & Recorder, Treasurer and County Assessment. Closings are expected within the next 30 to 45 days.
The real property addresses under contract are 1403 Dutch Road, 1556 Red Brick Road and approximately 81 acres of farmland, all in Lee County, Ill.
The Marshals are announcing an unsolicited offer of $350,000 received on a fourth Crundwell-titled parcel, also located in Lee County. The Marshals do not release the identity of the offeror. A similar sale process will follow on this piece of real property located at 1679 U.S. Highway 52, Dixon, Ill. Counteroffers will be accepted until 2 p.m. CST Jan 25. An open house will be held Jan. 11, 12 and 18 between 10 a.m. and 1 p.m. Adverse weather conditions may require a change in these dates. Additional information on the sale process can be found at www.usmarshals.gov/assets/sales/crundwellrealproperties.htm. The latest address is identified as Parcel D.
Crundwell, 59, was one of the leading breeders of quarter horses in the U.S. Formerly the comptroller of Dixon, Crundwell pleaded guilty to a federal fraud charge in U.S. District Court in Northern Illinois Nov. 14. Crundwell agreed she owes restitution to the city of Dixon totaling $53,740,394. Since she was arrested April 17, Crundwell has agreed to the liquidation of assets she acquired with proceeds from her decades-long fraud scheme. To date, the U.S. Marshals Service has recovered approximately $8 million from the online and live auctions of approximately 400 quarter horses, vehicles, trailers, tack, a luxury motor home and personal belongings from her homes in Dixon, Ill., and Englewood, Fla. The net proceeds from the forfeited property will be held in escrow pending further proceedings on restitution to the victim of the offense.
For information on the federal case, go to http://www.justice.gov/usao/iln/pr/chicago/2012/pr1114_01.pdf
The U.S. Marshals Service is responsible for managing and selling seized and forfeited properties acquired by federal criminals through illegal activities. Proceeds generated from asset sales are used to compensate victims, supplement funding for law enforcement initiatives and support community programs. As part of the Department of Justice’s Asset Forfeiture Program, the Marshals currently manage more than 23,000 assets with a value of $2.4 billion.