Wednesday, November 24, 2010

Six Executives Of Missouri Based Funeral Concern Indicted For Allegedly Diverting $600 Million

Six executives of Clayton, Missouri-based National Prearranged Services Inc. were indicted on charges they diverted as much as $600 million from fees paid by customers for pre-paid funeral services, for their own benefit. The six include James Douglas Cassity, 64, of Clayton; his son, Brent Douglas Cassity, 43, also of Clayton; Randall K. Sutton, 65, of Chesterfield; Sharon Nekol Province, 66, of Ballwin; Howard A. Wittner, 73, of Chesterfield; and David R. Wulf, 58, of St. Louis County. The 50 count indictment alleges mail fraud, wire fraud, bank fraud, insurance fraud, embezzlement, money laundering and conspiracy and seeks recovery of the funds and the seizure of numerous luxury items and property, including a 36-foot boat and jewelry, and various condominiums, homes and other properties in Missouri, California, Florida and Nantucket, Massachusetts. The funds paid by clients which should have been held in trust, were allegedly diverted by the defendants through numerous mail, wire and other transfers over a ten year period dating back to at least 1998 until 2008.

Read the story here, here and here.

Read the DOJ announcement here.

Hat tip: Reader Nicole.

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