Randall Sutton, 63, of Chesterfield, leaves federal court. Sutton, president and CFO of a now-defunct prearranged funeral services company, National Prearranged Services, Inc. of Clayton, was arrested on fraud and money laundering charges and accused of a 10-year, multi-million dollar scheme, federal prosecutors said.
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Six officials of a former Clayton company known for aggressive sales of prearranged funerals nationwide were accused Monday of diverting as much as $600 million from buyers' policies for their own gain.
The 50-count federal indictment seeks recovery of the dollar loss as well as a long list of real estate and personal property, including a 36-foot boat and expensive jewelry. Real estate includes condos, homes and other properties here, and in California, Naples, Fla., and Nantucket, Mass.
The indictment accuses the six defendants of fraud, embezzlement, money laundering and conspiracy, all committed through a lengthy series of money transfers.
The company is National Prearranged Services Inc., which stopped selling funeral policies in 2008 as several states, including Missouri, were closing in on its practices. The Texas Department of Insurance forced a liquidation of the company that year
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