Wisconsin Funeral Trust mismanaged millions - WKOW 27: Madison, WI Breaking News, Weather and Sports

Wisconsin Funeral Trust mismanaged millions


MADISON (WKOW) – The court-appointed receiver of the Wisconsin Funeral Trust says there was wrongdoing in operating the prepaid funeral plan.

In a status report to Dane County Circuit Court about the trust, John Wirth pointed out that state investigators said the prepaid funeral plan was mismanaged to the toll of millions of dollars for people who paid for funerals in advance.

Wirth wrote litigation will likely occur to recover lost assets.

According to the Wisconsin State Journal, Wirth's office issued 39 subpoenas and reviewed more than 100,000 pages of emails and documents.

Wirth wrote that "several hundred" people who held investments and have died since the problems were exposed have had their funerals covered for the most part, but the funeral homes are getting about 60 cents on the dollar in reimbursement.

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