Downers Grove doing its best to recover lost and frozen funds
The Village of Downers Grove is keeping the public appraised about the municipal and school district assets invested with the Illinois Metropolitan Investment Fund (IMET) that have been restricted as a result of alleged fraud.
The Chicago Tribune published a story April 10 of this year describing and identifying the situation. On Nov. 3, 2014, the village communicated the matter to the public as described in a posted story.
The village later noted in a follow-up story on April 14, which the IMET told its municipal clients that they expect to recover 60 to 70 percent of the total funds lost.
To date, $29,000 of the $586,000 in village investment funds affected by the fraudulent activity has been returned.
The village indicated it will continue efforts to seek and recover the remainder of the investments lost.
Organizations in this Story
801 Burlington Ave
Downers Grove, IL - 60515