Downers Grove informs public it is committed to recovering lost IMET funds
The Village of Downers Grove, Illinois, has done its part to make sure the public is appraised of the restrictions placed on municipal and school district assets, which were invested with the Illinois Metropolitan Investment Fund (IMET), due to fraud.
A Chicago Tribune article published April 10 described the situation involving the restrictions.
The village reports that $10,000 of the $586,000 in investment funds affected by the fraudulent activity has been returned.
IMET informed the village it should receive 60 to 70 percent of the funds lost.
The village reports that it will continue to work on recovering the rest of the lost investments.