A Michigan man has stolen more than $1 million from hundreds of people who paid in advance to plan funerals for their loved ones.
Terry Kaufman, director of Kaufman and Company Funeral Home, pleaded not guilty to 39 counts of embezzlement and related charges after arranging a pre-paid funeral. reports MLive.
Prepaid funeral plans are designed to help families prepay future funeral expenses and avoid unexpected expenses after a loved one dies.
The money is usually placed in escrow or tied to a special insurance policy.
Kaufman sold all kinds of arrangements.
Authorities said Kaufman received $1,111,165 from victims and saw the money diverted for use over a 10-year period. The operation involved 204 people, including 55 people under federal supervision, and spanned nearly a decade.
Authorities discovered the fraud after the ward’s death and investigators found no purchase money or valid insurance for the payments collected.
The director received $218,000 in cash from the Huron County Public Guardian’s Office, but did not deposit the money or purchase valid insurance.
Huron County Public Guardian Jacilyn Braun said,
“There were many people who believed in him.
A judge sentenced him to at least seven years in prison along with an order to pay nearly $1.1 million in restitution, but that amount will not be met.
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