• Rita Crundwell, Ex-Dixon, Ill., Comptroller, Pleads Guilty To Embezzling $53M

    Crundwell, 59, pleaded guilty to one count of wire fraud in Rockford federal court, admitting that she opened up a Dixon bank account controlled only by her to embezzle $53 million in funds since 1990.
  • MI Developments slips to loss in Q4 on write-downs - Update

    Canada-based real estate development company MI Developments Inc. (MIM, MIM.A.TO, MIM.B.TO) on Friday reported a net loss for the fourth quarter compared to a profit in the year-ago period, hurt by write-downs of the carrying value of Magna Entertainment Corp.'s long-lived and intangible assets. MI Developments is racetrack operator Magna Entertainment's controlling shareholder as well a...
  • Magna Entertainment to review options after loss

    Magna Entertainment Corp said on Thursday that immediate and drastic action was needed to improve its money-losing performance, and said it has hired a former executive to conduct a strategic review.