IFDA Scandal
In the 1980s as Illinois State Comptroller, Burris's office issued a license to the Illinois Funeral Directors Association (IFDA) to manage a pre-need funeral trust fund. A provision was also issued allowing trustees to take 25% of the fund's earnings as management fees.
The fund went into deficits beginning in 2001 leading to a revocation of the IFDA license in September 2007 and a $59 million deficit by October 2008. Burris acted as a lobbyist for the IFDA trust during early 2007 through 2008. Burris has refused comment on the scandal citing "it was 30 years ago". Consequently, a group of funeral directors (plaintiffs in a suit filed January 2009 against the IFDA alleging a Ponzi scheme) have subpoenaed Burris to find out his involvement during his time as lobbyist. The lawsuit is currently ongoing.
Read more about this topic: Roland Burris
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