Roland Burris and Illinois Funeral Directors Association need to give Answers Now in Ponzi Scheme.
The President of the Illinois Funeral Directors Association has resigned. Chris Woodridge resigned the Illinois Funeral Directors Association for Personal Reasons. Merrill Lynch a while back bowed out as trustee. So Now What? The IFDA Preneed trust lost 40 million of the folks preneed money in Illinois before The Market crashed in September 2008. Today the amount has grown to over 100 million.
This has impacted the funeral industry-and Funerals in Illinois and raised the average cost of the Funeral in Illinois.
Snippet from the Memorial Business Journal
The Illinois Funeral Directors Association has been hit by key defections in its leadership and administration. First, Merrill Lynch Bank & Trust Co. sent a letter informing the association of its intention to step aside as interim trustee for the association’s beleaguered preneed trust fund. Then, Chris Wooldridge resigned as association president.
Despite the timing between the two resignations, Duane Marsh, Illinois IFDA executive director, said there is no connection between the trust situation and Wooldridge’s resignation. “Chris made a personal decision and it is our job to go on and that is what we will do. We’re going to honor it,” Marsh said.
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