NPS Executives Plead Guilty In $600 Million Ponzi Scheme
Read the full article at Riverfront Times
UPDATE 6-2013—Jim Cassity, Brent Cassity, and others to go on trial for NPS Preneed Ponzi Scheme
One of six people accused of bilking customers out of as much as $600 million in a pre-arranged funeral scam admitted her role on Monday, as the rest of the defendants prepare to go to trial.
Sharon Nekol Province, 69, of Ballwin, pleaded guilty in federal court here to six counts of the 50-count indictment.
They include James Douglas Cassity, of Clayton, who bought the company in 1979; his son, Brent Cassity, also of Clayton, who helped run the companies; Randall K. Sutton, of Chesterfield; Howard A. Wittner, of Chesterfield; and David R. Wulf, of St. Louis County.
They face additional charges of embezzlement, money laundering and conspiracy, all allegedly committed through a lengthy series of money transfers. The network of trusts and businesses named in the indictment include National Prearranged Services, Lincoln Memorial Life Insurance Co., Memorial Services Life Insurance Co. and Forever Enterprises, former owner of funeral homes in the St. Louis area.