Attorney general looking into Chicago parking meter debacle

State officials are investigating the implementation of Chicago's $1.15 billion parking meter privatization deal.

Illinois Attorney General Lisa Madigan says the goal is to determine if consumers have been defrauded.

Madigan says the office isn't investigating the city, but the deal into the lease of the city's 36,000 parking meters.

The city's Law Department had no comment on subpoenas that have been sent.

The 75-year deal approved in December quadrupled parking rates in some neighborhoods.

Chicago aldermen have since complained that some meters are broken, charge incorrect rates or have outdated fee information.

Chicago Mayor Richard Daley has defended the deal, saying it was a solution for the cash-strapped city.