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

6 Jan

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.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: