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Village Took Steps to Protect Assets and Is Working to Recover IMET Funds

A Chicago Tribune article published on Friday, April 10, 2015, described and identified 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 Village of Downers Grove took action and communicated to the public when the circumstances involving this restriction of funds became known, as described in the website top story posted on November 3, 2014.

To date, $10,000 of the $586,000 in Village investment funds affected by the fraudulent activity have been returned. IMET has advised that the Village should expect to receive 60 to 70% of the total funds lost.  The Village will continue its efforts recover the remainder of all lost investments.