Suit Alleges $600 Million National Pre-Need Burial Insurance Fraud

...Approximately 149,000 people in 47 states bought NPS pre-need funeral contracts through their local funeral homes. The vast majority of these pre-need funeral contracts were purportedly backed by life insurance policies issued by Lincoln Memorial and Memorial Service. Both Lincoln Memorial and Memorial Service were placed in receivership in Texas along with NPS on May 14, 2008. Among its 27 claims for relief, the suit seeks treble and punitive damages under the federal Racketeer Influenced and Corrupt Organizations Act (RICO), the Lanham Act, and state consumer protection acts...

BusinessWire: Suit Alleges $600 Million National Pre-Need Burial Insurance Fraud