Memorial Business Journal
November 23, 2010
50-Count Indictment Handed Down Against Controlling Officers at NPS
St. Louis – The United States Attorney’s Office, Eastern District Court of Missouri, announced a 50-count indictment of six controlling officials of National Prearranged Services, Inc., charging wire, bank, mail and insurance fraud; money laundering and multiple conspiracy charges involving the sale of pre-paid funeral services.
The indictment states that after taking into account insurance and trust assets expected to be available to pay for future funeral services, and merchandise under prearranged funeral contracts sold by National Prearranged Services, Inc. (NPS), the loss to purchasers, funeral homes and state insurance guarantee associations will range from $450,000,000 to $600,000,000.
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