Will The Illinois Funeral Directors Association soon Rest in Peace?
Revealed here is some interesting news in the Illinois Funeral Directors Association Ponzi Sheme. The comptroller of the State of Illinois has demanded that Funeral Leaders in the State repay 10 million dollars. This is because they took excess fees out of the IFDA Preneed Trust.(more than allowed by law). This was a classic insurance ponzi scheme where 59 million dollars was lost.
One funeral director in Illinois has stated that this will be the makings of a funeral for the Illinois Funeral Directors Association.
“The next board of IFDA due to be seated and sworn in next month just might be in charge of making funeral arrangements for our once great association. I’m not sure at this point she can be saved. Arrangements pending?” -fromyourfuneralguy.wordpress.com
Certainly the Illinois Funeral directors Association is in great trouble and probably near death. There are two high profile lawsuits going on and a third where the IFDA insurer is suing (lawsuit against)the association so as to not to pay for the lawsuits or potential damages!
From the “Chicago Tribune, May 13th 2009”
THE COMPTROLLER OF THE STATE OF ILLINOIS HAS DECLARED ILLINOIS FUNERAL LEADERS GREEDY AND DEMAND THEY RETURN 10 MILLLION DOLLARS.
“Hynes asked the Illinois Funeral Directors Association to return $9.6 million in management fees taken from 2000 to 2006 to administer the trust. He accused the association of charging more than the legal limit.
“These excess management fees are a display of greed and a betrayal of the consumer trust that will not be tolerated,” Hynes said.
The association, which in the past has denied that the fees were excessive, maintained its position.”
The Tribune Article then goes on to show how the Illiniois Funeral Directors Association has defied the Comptroller of the State of Illinois.
THE DEATH OF THE IFDA HAS BEEN PREDICTED AT THIS BLOG. Check out these posts.
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prophecy on ILLINOIS FUNERAL DIRECTORS ASSOCIATION LAWSUIT
llinois Corruption|FROM DEATH TO US SENATE|
The IFDA’s Lower cost Funeral is about to begin. Another sad day for funeral preneed.
Lower Cost Funeral|Funeral Industry Blog by yourlowercostfuneralguy.
