Funeral Industry leaders have commented on the legality of the issues of the IFDA lawsuit(s). Some of these comments were made a year ago but they are significant none the less.
For example this from;
Daniel Isard, president of The Foresight Companies in Phoenix, Ariz. This is a preneed expert? Funeral Industry Consultant?
“I don’t think there’s anything illegal,” Isard said. “I don’t think there’s anything immoral about the practice. Certainly, on the surface, it sounds negative. We don’t see it in a lot of other trusts because most other trusts are not that large.”
Then there is the Former IFDA President Charles Childs who was IFDA prez during the early part of the scandal.
“None of us funeral directors have the time or the expertise to manage a trust of this magnitude.” Then why did the IFDA keep a tight grip on the fund and the 300 key guy insurance policies?
Isard , Childs and Slocum’s statement to follow were from reporter Bruce Rushton in a State- Journal-Register Article, Springfield, Il about a year ago.(Article no longer on the Net available from the newspaper)
And this from Joshua Slocum who sounded prophetic.
“This is a perilous business practice,” said Slocum, who keeps tabs on funeral trust funds across the nation. “It sounds like something you’d hear in a bad mafia movie. You’re taking a gamble that your guys are going to die soon enough.”
Joshua Slocum’s Organization the Funeral Consumers Alliance (FCA) has been sued by the Funeral Poet and Traditionalist, Thomas Lynch. His family holds NFDA executive positions.
A Cemetery Expert said this less than a year ago on one of my blogs.
“The IFDA is the “fox watching the henhouse”.
I have written a book on this, from a cemetery and crematory aspect, viewable at: http://stores.lulu.com/cemops2007
I also have a website: http://www.cemops.com“
You can check out his full comment at this Blog in the post from February 25th 2008.
“Your Funeral Guy: Comment Made on the IFDA TRUST SCANDAL#1(Funeral Cost)”
It seems that Charles Childs and Daniel Isard need to investigate the spelling of Ponzi. Repeat after me guys: Ponzi Scheme
Funeral Industry Blog by Your Funeral Guy.