Busted Pre-Paid Funeral Fund Receiver Says There Was Wrongdoing
- Last fall we learned a state pre-paid funeral organization's trust fund was missing millions of dollars. Now the court-appointed receiver of the Wisconsin Funeral Trust says there was substantial wrongdoing in operating the plan.
State investigators say the trust was mismanaged to the toll of millions of dollars for people who paid for funerals in advance.
John Wirth says there will likely be litigation to recover lost assets.
Wirth's office has issued 39 subpoenas and reviewed more than 100,000 pages of emails and documents.
He says there were several hundred people who had investments and have died since the problems were exposed. They have, for the most part, had their funerals covered.
But, the funeral homes are getting about 60 cents on the dollar in reimbursement.
Story By: Associated Press
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