Ill. AG investigates parking meter fraud

May 29, 2009 7:40:50 PM PDT
Illinois Attorney General Lisa Madigan has launched a consumer fraud investigation into the privatization of Chicago's 36,000 parking meters.There have been reports that the meters have charged incorrect rates.

On Wednesday, 250 of the pay to park boxes stopped working because of an electronic malfunction.

Madigan's office has sent subpoenas to three companies involved in the controversial lease deal and LAZ Parking which helps run the system.

A spokeswoman for Chicago Parking Meters reportedly said Morgan Stanley and LAZ Parking would give their full cooperation to Madigan's investigation.