If you’re looking to watch All the Queen’s Horses, you’re probably expecting a movie about the British Monarchy or maybe some high-stakes equestrian competition. You’d be wrong. Dead wrong. This isn't about literal horses, though there are plenty of them in the background of this massive fraud case. It’s a documentary about Rita Crundwell. She was the comptroller of Dixon, Illinois. A tiny town. A place where everyone knows everyone. And yet, she managed to siphon off $53 million over two decades. It is the largest municipal fraud in U.S. history.
Honestly, the scale of it is hard to wrap your head around. Imagine a town where the streets are crumbling, the pipes are bursting, and the local government is constantly told "there’s just no money in the budget." Meanwhile, one employee is winning world championships with her stable of elite quarter horses. People saw the wealth. They saw the custom motorhomes that cost more than most people's houses. They just... didn't put it together.
The Mystery of the Missing $53 Million
Director Kelly Richmond Pope didn't just make a true crime flick; she made an autopsy of a broken system. When you sit down to watch All the Queen’s Horses, you aren't just seeing a heist. You’re seeing how "trust" becomes a liability in government. Rita Crundwell started as a typo-fixer and ended up as the person who controlled every single cent that moved through Dixon.
She opened a secret account. The RSCDA (Reserve Sewer Capital Development Account).
Simple.
Boring.
Invisible.
She told the city council that the state was just "late" on payments. For twenty years, they believed her. You’ve got to wonder how a single person manages that without a partner in crime. The documentary digs into the "small town" psychology where questioning a neighbor feels like an insult. Crundwell wasn't some shadowy figure; she was a beloved member of the community who threw great parties.
How the Fraud Actually Worked
The mechanics are almost insultingly simple. Crundwell would create fake invoices for the state of Illinois. She’d then write checks from the city’s real accounts to her fake account. Because she was the one who received the bank statements and the one who reconciled the books, nobody saw the discrepancy.
Think about that.
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She was her own boss. She was her own auditor. It was a closed loop of absolute power. The film features interviews with forensic accountants and the FBI agents who eventually took her down. It’s fascinating to hear them talk about the "red flags" that were actually giant, flaming banners.
One of the most jarring parts of the story is the lifestyle contrast. While the city of Dixon was cutting its maintenance budget to the bone, Rita was building a horse empire. We’re talking about 400 horses. She was the leading breeder in the American Quarter Horse Association for eight years running. You can see the footage in the documentary—the glitz, the trophies, the sheer audacity of it all. It’s localized greed on a global stage.
Why This Documentary Still Matters
Most people find this film because they love true crime, but they stay because it’s a terrifying lesson in civic duty. It’s currently available on platforms like Amazon Prime, Peacock, and various VOD services. If you want to watch All the Queen’s Horses, look for it under the independent documentary sections. It’s not just for "finance nerds." It’s for anyone who pays taxes.
The film exposes a massive flaw in the American auditing system. The auditors in Dixon were local. They were friends with Rita. They didn't want to find anything wrong. There’s a specific scene where the film discusses the "standard" audit procedures. Basically, if the person providing the documents is lying, and the auditor doesn't verify with the bank directly, the whole thing is a farce.
It’s a systemic failure.
Crundwell was eventually caught by a co-worker, Kathe Swanson. Kathe was filling in while Rita was on a long vacation. She saw a bank statement she wasn't supposed to see. She took it to the mayor. Even then, they didn't go to her. They went to the FBI. They had to play it cool for months while the feds built a case. Can you imagine sitting across the desk from someone you know stole $53 million, pretending everything is fine?
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The Aftermath and the Auction
When the feds finally moved in, they didn't just arrest her. They seized everything. The horses, the ranch, the jewelry, the furs. The documentary shows the massive auction that took place to try and recoup the money for the city of Dixon.
They got some of it back. About $9 million from the auctions and a large settlement from the auditors and the bank. But $53 million is a lot of money to spend. A lot of it was gone—literally "down the throat" of those 400 horses.
Crundwell was sentenced to nearly 20 years in federal prison. She was released early in 2021 to a halfway house, which sparked a whole new wave of outrage in Illinois. The town of Dixon is still recovering. They have better roads now, sure, but the trust? That's harder to fix.
Where to Stream and What to Look For
If you are trying to find where to watch All the Queen’s Horses, it’s widely accessible on major streaming hubs.
- Amazon Prime Video: Usually available for rent or purchase, and sometimes included with a membership depending on your region.
- Peacock: It has frequently been part of their documentary catalog.
- YouTube Movies: Available for a small rental fee.
- Tubi/Pluto TV: It occasionally pops up on these free, ad-supported platforms.
When you watch it, pay attention to the interviews with the citizens of Dixon. You’ll see a mix of embarrassment and anger. Some people still find it hard to hate her, which is the weirdest part of the human psyche. She was "their" Rita.
Actionable Steps for Protecting Your Community
Watching the film is great entertainment, but it should actually make you want to go to a city council meeting. Fraud like this happens because of a lack of "segregation of duties."
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Check your local government's transparency. Most towns are required to publish their annual audits online. Look at them. If the same person is handling the money and checking the books, that’s a problem.
Ask about independent audits. Does your town use the same auditing firm every year? If so, they might be getting too comfortable. Rotating auditors is a standard best practice that Dixon ignored.
Understand the "Whistleblower" process. Does your city have a way for employees to report suspicious activity without fear of being fired? Kathe Swanson was a hero, but she was also terrified.
Crundwell's story isn't an outlier; it's a warning. Small towns are the most vulnerable because they have the least oversight. The next time you see a local official with a lifestyle that doesn't match their salary, don't just shrug it off as "they must have had a rich uncle." Sometimes, the uncle is the taxpayer.
The legacy of Rita Crundwell isn't just the millions she stole. It's the fact that she showed how easy it was to do it. The documentary serves as a manual on what not to do if you want to keep your city solvent. It’s a brisk, 70-minute watch that feels like a punch to the gut.
Go find it. Watch it. Then go look at your own town's budget. You might be surprised at what you find—or what's missing.