Breaking News Senator Roland Burris’s “papers” have been subpoenaed in the alleged Illinois Funeral Directors Association Ponzi Scheme. This is important because every time the funeral directors and the public are taken advantage of in a preneed or prepaid ponzi situation the average cost of a funeral rises, funds are lost.
When TRUST Funds are Misappropriated People lose Money.
In the case of the IFDA Preneed trust there was a $59 Million loss and their are hundreds of questions as to where the money went. There are also lawsuits. In one six funeral director lawsuit with the lead name
“Calvert Funeral Homes” of Bloomington, Illinois Burris’s papers have been subpoenaed. Check that lawsuit out here
“Around the country the story has been released by the (AP) Funeral Directors subpoena Burris”
As stated in the the last blog post quote- Springfield, IL Newspaper
“When Burris was state comptroller in 1980, he granted the Illinois Funeral Directors Association a license to manage the fund. More than two decades later, the IFDA hired Burris to lobby Comptroller Dan Hynes’ office, which regulates the funeral industry.Burris, a Chicago Democrat, hasn’t answered questions on the matter.”
Your Funeral Guy, The State Journal Register, and the Illinois Senate President have been asking Burris to come forward with the knowledge he has about the IFDA alleged Ponzi Scheme. For over 2 months he has refused.
Now he will have give the information to a court-State Journal Register Posting 4/10/09 11:33 pm
“In the subpoena filed Friday in Cook County Circuit and sent to Burris via certified mail, the plaintiffs demand:
- All documents and communications pertaining to the pre-need trust fund.
- Documents relating to the issuance of IFDA’s license issued by the comptroller’s office in 1980.
- Documents showing Burris’ analysis of the license revocation.
- Documents showing how much IFDA paid Burris to lobby state regulators and the terms under which he was retained.”
These documents will begin to reveal much as to what has been going on with the IFDA Preneed Trust Ponzi Scheme for 30 Years.
Funeral Industry|Funeral Blog by Your Funeral Guy.
Burris pick from FLICKR under creative commons license