More to come in Historic Illinois Funeral director Scandal
There is more to come on the Illinos Funeral Directors Association. This week it was revealed that there has been a task force set up by the Illinois Legislature. They immediatedly will be conducting an investigation and will report on it by the End of the Year… this will bring up many more questions. Some of the Questions: It’s all here.
As time goes on the questions will be answered.
The State Journal Register will be reporting more information on the Historic Illinois Funeral Preneed Scandal THIS WEEKEND..-From the Editors Blog
“We’ve written a lot about the Illinois Funeral Directors Association preneed burial fund that has seen its value plummet. Other states have handled such funds differently. In fact, some of them have seen their funds gain money rather than lose money. How does this work and what can Illinois learn from this?”
A way to get a legal overview on the Six Funeral Director Lawsuit led by Calvert Funeral Homes and Alex Calvert. is to look at the plaintiffs lawyer public statement here. Snippet from the statement:
“Funeral directors who had invested their clients’ money into this trust were told repeatedly by IFDA Services (the branch of the IFDA that manages the trust) that the funds invested in the Preneed Trust were invested in safe and tax-exempt investment vehicles such as municipal bonds. However, instead of investing money to preserve principal and provide a safe return, IFDA Services invested over $190 million, constituting a substantial majority of the total Preneed Trust funds, recommended and sold to the trust by Merrill Lynch, in complex life insurance products issued by at least seven insurance companies.”
Funeral Industry|Funeral Blog by R Brian Burkhardt- Your Funeral Guy.
Calvert Funeral homes are headquartered at Calvert Metzler Funeral Home in Blommington, IL
alex calvert
calvert funeral homes
