Flossmoor is taking steps to protect its municipal investments following a potentially far-reaching financial scam that is already tying up more than $50 million in government funds across Illinois.
Of Flossmoor’s investment, $90,000 is directly affected by the case.
The village has withdrawn more than two-thirds of its municipal portfolio in one of two funds operated by Illinois Metropolitan Investment Fund, or IMET. Following disclosure of the fraud, Flossmoor reduced its investments in IMET’s Convenience…
