Longtime Dixon, Illinois comptroller Rita Crundwell has been arrested for allegedly stealing some $30 million in city funds over the last six years alone. The town's yearly operating budget is between $8 million and $9 million. Crundwell, who also owns two horse farms in Dixon and Wisconsin, has been charged with one count of wire fraud. A detention hearing is set for Crundwell, who has been comptroller since the early 1980s, later today.

The Dixon comptroller, 58, has worked for the city since she was in high school and is one of just a few full-time city hall employees in the small northwestern Illinois town. Crundwell, who lived a lavish lifestyle according to reports, is also a world-renowned horse breeder, with 50 of her animals having been world champions.