Saturday, July 13, 2013
As I have previously discussed, National Prearranged Services perpetrated one of the largest frauds ever seen in the St. Louis area, a “Ponzi-like” pre-arranged funeral scheme which defrauded customers out of over $600 million.
Randall K. Sutton, the former CFO, now faces up to seven years in prison after pleading guilty to bank fraud, mail fraud, insurance fraud, and money laundering.
Howard A. Wittner, the company’s former lawyer, faces up to five years in prison after pleading guilty to making “false statements intended to deceive insurance regulators, and willfully permitting a felon to engage in the insurance business,” referring to former owner James “Doug” Cassity.
Former investment adviser, David R., still remains as a defendant.
See Robert Patrick, Former CFO, Lawyer Plead in St. Louis Pre-Arranged Funeral Fraud Case, St. Louis Today, July 9, 2013.
Special thanks to Laura Galvan (Attorney, San Antonio, Texas) for bringing this article to my attention.