Receiver details "wrongdoing" in funeral plan
Updated On: Feb 17 2013 09:06:19 AM CST
The court-appointed receiver of the Wisconsin Funeral Trust said there was substantial wrongdoing in operating the prepaid funeral plan.
John Wirth noted that in a status report to Dane County Circuit Court about the trust, which state investigators say was mismanaged to the toll of millions of dollars for people who paid for funerals in advance.
Wirth wrote litigation will likely occur to recover lost assets.
The Wisconsin State Journal reported Wirth's office has issued 39 subpoenas and reviewed more than 100,000 pages of emails and documents. He wrote the "several hundred" people who held investments and have died since the problems were exposed have, for the most part, had their funerals covered.
However, the funeral homes are getting about 60 cents on the dollar in reimbursement.
Copyright 2013 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.