A funeral home company with a troubled history is once again being fined by state regulators.
The WREG Investigators have been consistently uncovering issues at funeral homes and cemeteries operated by the company formerly known as StoneMor.
Everstory, formerly known as the company, has recently incurred a penalty that is directly tied to its financial situation.
Tennessee’s Funeral Board has imposed a fine of $40,000 on StoneMor/Everstory. The fine consists of four separate penalties of $10,000 each, which are attributed to the four facilities operated by the company in the Midsouth region.
State regulators uncovered financial discrepancies in StoneMor’s federal financial records, leading to the imposition of a civil penalty.
Kevin Walters, spokesperson for the Tennessee Department of Commerce and Insurance, revealed that during their investigation into StoneMor/Everstory’s financial records, they found evidence that the company had misused funds collected from individuals for preneed funeral trust funds. Instead of using the funds as intended, StoneMor had directed them towards an investment in a shoe company. It is worth noting that a StoneMor executive also had a financial stake in the shoe company. Walters emphasized the importance of their due diligence and the tough questions they asked during the investigation.
According to Walters, consumers did not give their money to StoneMor as an investment in a shoe company, but rather for preneed funeral trust funds. He emphasized that what StoneMor did is a clear violation of Tennessee law.
WREG previously conducted investigations that revealed the state had imposed fines of approximately $70,000 on StoneMor last year due to a range of violations at their funeral homes and cemeteries.
If you have any concerns or issues regarding a funeral home visit, you can file a complaint by visiting tn.gov/commerce.
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