Law360 (December 3, 2019, 10:04 PM EST) -- Cremation company Neptune Society illegally pocketed more than $100 million from customers who purchased prepaid cremation plans, California Attorney General Xavier Becerra said in a suit filed Monday.
The Texas-based company offers so-called pre-need cremation service plans that customers can purchase before a death, according to the suit lodged in Alameda County Superior Court. Under California law, companies selling pre-need funeral plans must hold their customers’ payments in fully refundable pre-need trusts until the service is provided, Becerra said. But Neptune Society ignored this requirement and illegally kept money that should have been placed into trust, the suit says.
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