Illinois Funeral Directors Association Lawsuit|News|Your Funeral Guy

There have been recent developments in the Illinois Funeral Directors Association Ponzi Scheme. The IFDA thinks they are going to have a new  trustee. Now let us put this in perspective. The Association has been trying to get an approved permanent trustee  for the IFDA Preneed trust for 3 years  since 2007, it has not happened. What makes them think it is going to happen now? A new trustee would have to be approved by a regulator. The Illinois Funeral Directors Association has a  long history of  not cooperating with the regulators in their state.

The new folks the IFDA are proposing to be the trustee is Fiduciary Partners Inc. This is much smaller outfit than Merrill Lynch and is located in Appelton, Wisconsin.

Six Illinois Funeral Directors are suing the Illinois Funeral Directors Association

The six funeral directors suing the IFDA,  have filed an amended complaint around the the Illinois Department of Insurance’s Revised Consent order on a $18 Million dollar  settlement between the State of Illinois and Merrill Lynch. As one may expect the lawsuiting Funeral Directors do not want a limit on amy potential settlement You will not find any sympathy here for  the six Illinois funeral Directors suing the IFDA in Calvert Funeral Homes LLC et al. These folks only complained  and filed  their lawsuit when the Trust Fund Tanked  and they were not receiving their high commissionson the Pre need Trust Funds

In the past week, there were two new developments involving the Illinois Funeral Directors Association Preneed Trust Fund. First, six Illinois funeral directors have filed additional counts to their class action complaint in Chicago Circuit Court challenging a revised consent order issued by the Department of Insurance which amounts to an $18 million settlement between the state and Merrill Lynch Life Agency for its role in the state’s ongoing preneed trust fund debacle. The complaint calls the order ambiguous and said it raises more concerns than the original document that was declared unlawful earlier this year. Also, the IFDA is recommending Fiduciary Partners Inc. as a new trustee of its preneed trust fund, essentially replacing Merrill Lynch Bank & Trust Co. as interim trustee.

via memorialbusinessjournal.wordpress.com

IFDA lost, stole, misappropriated 100 million of the folks funeral money in the State of Illinois

Note the Memorial Business Journal is a Publication targeted at Funeral Directors and does not publish with  both the  funeral consumer and the funeral director in mind. The premier place in the world that does that are the Your Funeral Guy Blogs.

Funeral Industry Funeral News Funeral  Blog by Your Funeral Guy

Your Funeral guy has been blogging on the Illinois Funeral Director Scandal Since 2007 . Between February 2008 and January 2009 Your Funeral Guy was the only one reporting on this scandal.

Soon More to come in Illinois Funeral Directors Lawsuit|YourFuneralGuy

The problem with settling preneed fraud in Court is that it may take years before justice is served.

The  Class Action Lawsuit against the Illinois Funeral Directors Association will be moving in forward in the next several days and the next several months.

THE PROBLEM WITH SETTLING THIS MATTER IN THE COURTS IS THAT IT TAKES YEARS FOR THE PERPETRATORS OF PRENEED SCAMS(IFDA LEADERS) TO BE BROUGHT TO JUSTICE>

Merrill Lynch can still be investigated for it’s role in the mess. The Comptroller’s Agreement is now null and void-and another agreement between Merrill Lynch  and the Illinois Department of Insurance may be Null and void as well. Merrill Lynch may have to pay for it’s role in the IFDA Preneed  TrustPonzi Scheme.  The Judge in the IFDA Lawsuit has in instructed the 6 Illinois Funeral Directors led by Calvert Funeral Homes to file an amended complaint by March 24th 2009

The defendants the IFDA and it’s leaders must file a response to the complaint by April 21st, 2010.

There will be a status hearing on this matter On May 5th, 2010.

Funeral Industry|FuneralNews|Funeral Blog by Your Funeral guy Funeral Director, Illinois and Virginia.

Besides IL Governor and Comptroller other Illinois Politicians involved in Funeral Ponzi -Your Funeral Guy.

There are other politicians involved with the Illinois Funeral Directors Association Ponzi Scheme, other than Governor Pat Quinn and Comptroller and Dan Hynes.

Many Politicians are involve in the Illinois funeral Directors Scandal

Roland Burris an Illinois Senator| More On Burris and the Illinois Funeral Scandal|Roland Burris approved the creation of the IFDA Preneed Trust Ponzi   as Illinois Comptroller in the1980′s, Burris was a lobbyist for the Illinois Funeral Directors Association,lobbying  Dan Hynes before becomig Illinois Senator by appointment by a disgrace Governor. As Senator he has refuse to comment on the Illinois Funeral Directors Ponzi Scheme.

Dewitt County Coroner Alex Calvert Of Calvert Metzler Funeral Home in Bloomington, Illinois  More on Calvert here. County Coroner Alex Calvert Runs Calvert Funeral Homes llc. Calvert Funeral Homes is the  the lead name in the Six Illinois Funeral Director Lawsuit against the IFDA. His chain of funeral homes like many of the Funeral directors in the state did not protect the families his funeral homes served by tracking down the status of IFDA funds. Instead he choose a lawsuit!

State Senator Randall Hultgren, Running for Congress.  | More on State Senator Randall  Hultgren|Hultgren was originally elected with the help of his fathers preneed Funds. Coming from from a Funeral Home supporting the IFDA, He refused to speak out against the Scandal as a member of the State Senate Insurance committee.

Illinois State Representative Dan Brady of Bloomington IL. More on an Brady and  the IFDA

Dan Bray is a funeral director as well as a reformer in the Illinois Funeral Directors Association Ponzi Scheme. He also gave great assistance in the Burr Oak Cemetery Scandal.

For More details on this story  CLICK HERE

Dan Hynes let the Illinois Funeral Directors Association go to Civil Lawsuit in hopes that the public may benefit. Your Funeral Guy Believes that the matter should have been sent to prosecutors  so the Ponzi Scheme could have been brought to a quick end for good.

Funeral Industry|Funeral News| Funeral blog by Your Funeral Guy.

Illinois Gov Race-The Illinois Funeral Directors Association PONZI Scandal is important!- YourFuneralGuy

The  Illinois  Funeral Directors Association  Funeral Ponzi Scheme is making news in the Governors Race In the State Of Illinois. Governor Pat Quinn is being challenged by Illinois Comptroller Dan Hynes.

Quinn is coming own hard on Hynes for letting the the Funeral Good  old boys get away with it. Remarkably It is not just the Illinois Funeral Directors Association Association who are upset with Hynes. The Folks suing the IFDA despise Hynes  as well. “The Lawsuit Calvert Funeral Homes llc et al” and the lawsuits that followed amounted to an  Funeral Director  Lawsuit Pile on the THe IFDA an the Illinois Comptroller

To Be fair to the Governor,  Hynes failed to report criminal activity.

To be fair to to Comptroller Hynes the Illinois Funeral Directors Association was fighting  him by not giving him the information he needed to deal with the scoundrels.

In  February 2008 The State Journal Register reported funds misappropiated, lost or stolen to the tune of 42 million USD. Today that amount has ballooned to over 100 million.

Snippet on some of the details here.

CHICAGO — The Quinn for Illinois campaign is calling on Comptroller Dan Hynes to give honest answers to consumers about the Illinois Funeral Directors Association Pre-Need Trust Fund – a Madoff-style Ponzi scheme that flourished for almost a decade under the Comptroller’s direct supervision.

“When Dan Hynes claims in his TV ads to be a good fiscal manager, Illinois voters need to take it with a $100 million grain of salt,” said Quinn campaign spokeswoman Elizabeth Austin.

The basic issue is simple: In 2001, Dan Hynes learned that the IFDA’s pre- need trust fund was losing money. In just one year, the fund balance had dropped from an $18 million surplus to a troubling deficit.

via news.mywebpal.com

The Illinois Funeral Directors Association Ponzi Scheme was the largest  Funeral| Insurance Scanal In the History of the State of Illinois.

Funeral Industry| Funeral News | Funeral Blog by Your Funeral Guy.

The Top 3 Funeral Scandals of 2009-YourFuneralGuy

Revealed Here are the  top 3 Funeral Scandals of 2009 with detailed explanations. Front and center in these Scandals are Service Corporation International, the Illinois Funeral Directors Association,  the National Funeral Directors Association’s Treasurer and  Perpetua, Inc the owner of  the Burr Oak Cemetery.

Burr Oak Cemetery Scandal

1. The Most significant and Far Reaching Funeral(& Cemetery) Scandal of 2009 was the Burr Oak Cemetery Scandal outside of Chicago. (Alsip, IL) In July 2009 it was discovered that over 300 graves had been moved and  desecrated. Bones were piled up and scattered throughout the cemetery. Four people were arrested for grave desecration. Next to the Georgia Tri State  Crematory  Scandal(2002) and  The Service Corporation International Menorah Gardens &  Funeral Chapels 2001 Scandal in West Palm Beach FL, this is probably the worst Funeral and Cemetery Scandal in the ending  decade. The owner of the neglected Cemetery, Perpetua Inc has escaped consequences along with the Funeral Homes involved on The South side of Chicago.

Good things have come out of this Scandal: Cemetery reform is on the way in Illinois and nationally  The Bereaved Consumers Bill of Rights Act was proposed in Congress.

Up to 500 Graves desecrated here

2. On the heels of the Burr Oak Cemetery Scandal came the Eden Memorial Park Scandal in Los Angeles. This is a Service Corporation International Cemetery were over 500 graves were either moved or desecrated. Eden Memorial Park was a much higher end Cemetery.  This shows the world that Funeral and Cemetery Scandal  everyone

Click Here for details of the Eden Memorial Park Lawsuit

3. In 2009 the Illinois Funeral Directors Association Insurance Ponzi Scheme was brought into the Light. They lost 42 million dollars before the Wall Street melt down in 2008. Losses have ballooned to over 100 million dollars The leaders of the association misappropriated the  preneed trust funds (IFDA Preneed Trust).

The Comptroller of the State of Illinois in 2009  stated in a press release that the leaders of the association stole the money.  One of the Main players in the scandal is Randall L Earl current treasurer of the NFDA, who has refused to resign his position despite his involvement.

Sadly those Funeral Directors( Lawsuit Calvert Funeral Homes et al) that sued the association over their preneed commissions did not do due diligence with their families preneed funds. They did not keep track of the money themselves, their responsibility. Instead they blamed their association and filed lawsuits.

Funeral Industry|Funeral Blog by your funeral guy

Illinois Funeral Directors File Lawsuits Against Comptroller-yourfuneralguy

Illinois Funeral Directors are suing various arms of the State of Illinois, IFDA, and Merrill Lynch.

Illinois Funeral Directors who are suing the IFDA(Illinois funeral directors Association)  for losses coming close to 100 million dollars in the IFDA preneed trust fund are now suing the regulator, the Comptroller of the State of Illinois and others.

The Plaintiffs are suing State comptroller Dan Hynes, Division of Insurance head Michael McRaith,  and Merrill Lynch, the IFDA’s former financial advisor and current trustee of the IFDA preneed trust.

This is the original Lawsuit: View Here Amended Derivative Complaint

Calvert Funeral Homes, et al. v. Robert W. Ninker, et al.
Case No. 09 CH 03624 (Cook County, IL)

This is the lawsuit against the Comptroller and other regulators and Merrill View here Declaratory Judgement

Fred C. Dames Funeral Homes, Inc., et al. v. Daniel W. Hynes, et al.
Case No. 09 CH 21989 (Cook County, IL)

This lawsuit against Merrill Lynch: View here Jury Trial

Clancy-Gernon Funeral Homes, Inc., et al v. Merrill Lynch, Pierce, Fenner & Smith, Inc., et al
Case No. 09 CH 20736 (Cook County, IL)

From the Illinois Senate Press:

“Funeral directors have filed another lawsuit related to a failed pre-need funeral trust fund once administered by the Illinois Funeral Directors Association…..

In the lawsuit, filed in Cook County July 7, funeral directors are asking a judge to nullify provisions in a settlement agreement between the Department of Insurance and Merrill Lynch, which agreed to pay an $18 million fine but admitted no wrongdoing.

The money is supposed to go to funeral directors who must first sign documents releasing Merrill Lynch from liability.”

THE LAWSUIT PILE ON FOR THE CONSUMER MEANS MORE FUNERAL COSTS.

All the parties feel they are justified in their actions, but you the consumer loose.

Funeral Industry, Funeral blog by Your Funeral guy

Illinois Funeral Lawsuit to be Amended-YourFuneralGuy

Illinois Funeral Directors lawsuit to be amended.

The Six Funeral Director’s Lawsuit Calvert Funeral homes  “COMPLAINT” is expected to be amended on May 30th 2009. There is suppose to be to have a Status hearing on July 7th 2009.

On those those dates we will find out more on the depositions in the lawsuits, the effect of the settlement with Merrill Lynch and Regulators, and legislative proposals and the lawsuit.

The significance of all this in 2009 is that there will not be a resolution to the IFDA ponzi Scheme Scandal Soon. Sadly there will be no “NEW IFDA” in 2009 as some claim is about to happen on July 1st 2009.

The National Funeral Directors Association continues to  so stand behind the controversial  Executive Secretary Randall L Earl who is deeply involved in this Scandal.

Losses in the IFDA Trust  will continue to  have funeral costs rise in Illinois due to this deficit.

Funeral Industry| Funeral Cost Blog by Your Funeral Guy.

Source:

Wexler Wallace Website for

“Wexler Wallace filed Plaintiffs’ Derivative Complaint on January 28, 2009.  The case is set to have a status hearing on July 7, 2009.  An Amended Complaint will be filed by May 30, 2009″

Revealed|Dan Brady Funeral Director,Preneed Reformer|yourfuneral guy

Illinois has ah an Historic Funeral Fund Trust Scandal 59 Million was lost and 8.6 Million was illegally talken for Management Fees.

Now IL.Rep Dan Brady, has been revealed as “Funeral Insider” who has moved to Reformer in the Historic Illinois Funeral Directors Preneed Scandal . Funeral Insider and State Representative Dan Brady has become somewhat of a hero. going  from IFDA Insider to the leading preneed reformer in Illinois.

Brady is the lead guy and sponsor of House Resolution 177  This is the bill  that created the  Funeral and Burial Pre-Arrangement Investigation Task Force. This bill was past by in a  Unanimous Vote  in The Illinois House this past Wednesday. This task force will investigate  the Loss of 59 million included  8.6 million in management illegally taken. The  IFDA Preneed Trust scandal was an active ponzi scheme. Calvert Funeral Homes is the lead funeral home in the Six Funeral Director lawsuit against the Illinois Funeral Directors Association making a legal claim for all this.

“Snippet” from the Pantagraph.com:

“A key figure in a legislative probe into problems within Illinois’ funeral industry was himself once active in the organization he now wants to ivestigate.
State Rep. Dan Brady, a Bloomington Republican, was a member of the Illinois Funeral Directors Association in the late 1980s and served on one of its committees.”

In Blogs in summer 2008  about the  IFDA Scandal Your Funeral Guy treated him as a key player in the Ponzi Scam.

The Pantagraph newspaper in Bloomington, IL has finally repoted on their two hometown players in the Historic Funeral Preneed Scandal in Illinois.

Now  Brady has distanced himself from the Illinois Funeral Directors Association and  become the lead guy calling for  preened reform. Rep. Brady has taken decisive action to put preneed reform in place in Illinois.

The Pantagraph News Organization has mentioned the home town players, Dan Brady and Calvert Funeral Homes in the Historic IFDA Preneed Trust Ponzi Scheme.

Funeral Industry|Funeralblog by Your Funeral Guy.

Source: Pantagraph.com

Funeral Preneed Scam; Honesty,Money|YourFuneralGuy

Trust is a word used by funeral directors. Often you have to keep them honest so there can be trust.

The one thing you need the most in planning your funeral is honesty. Honesty about death,  about your funeral wishes, and  honesty from the funeral director. It takes courage to think about death and your funeral. You also need the courage to find an honest funeral director and strength to keep that person honest.

This is the lesson learned from the Illinois Funeral Directors Association Ponzi Scheme  The IFDA was not honest about the where they were putting the money. They kept funeral directors in the dark as to what was going on with the money. They did not “notify the folks” (policyholders) as to the fact that the  their money invested in insurance policies as is required by law. A  letter to the editor at the State Journal Register sums it up this way:

“Since an increasing number of Americans are pre-arranging their funerals (although not always pre-funding), they deserve to know exactly what will happen to any money they give their funeral director. If the current status of the IFDA fund is just the result of bad judgment, that’s one thing. However, if more is involved, then any corrective measures will certainly be aided by transparency — not translucency as you now have. (Perhaps we do need a bill similar to that proposed by Dan Brady from Bloomington.)”

Even the Six Funeral homes who have filed a lawsuit did not do their due dillegence and keep track of their customers money. If they had done right by their customers the problem may have been resolved years earlier. The Lawsuit led by Calvert Funeral Homes may not have been needed to be filed on  the IFDA Preneed Trust. The very act of filing that lawsuit shows a lack of due dilligence with the folks money.

Honesty and trust are keys to coming in under the average cost of a funeral.

Funeral Cost/Funeral Industry blog by your funeral guy