Financial Adviser Guilty In Cemetery Fund Theft

Financial Adviser Guilty In Cemetery Fund Theft

A financial adviser to a former Memphis cemetery owner has pleaded guilty to theft and money laundering charges.
MEMPHIS, Tenn. (AP) - A financial adviser to a former Memphis cemetery owner has pleaded guilty to theft and money laundering charges.

According to a news release from the Shelby County district attorney general's office, Mark Singer and co-defendant Clayton Smart diverted money from the Forest Hill Cemeteries trust funds for their personal gain.

About $1.3 million went to accounts directly benefiting Singer.

The 47-year-old Singer pleaded guilty Thursday and was given a 10-year suspended sentence that he will serve on probation in his home state of New York.

Singer also was ordered to pay restitution consistent with a prior judgment holding Singer and others responsible for over $20 million in losses.

Smart, a former oilman who is from Okmulgee, Okla., was convicted of theft in Tennessee and Michigan earlier.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Page: [[$index + 1]]
comments powered by Disqus