FOR IMMEDIATE RELEASE
March 24, 2008
Contact:††††††††††† J. Patrick Hennessy
Attorney at Law
McGuire Funeral Home, Citizens Bank & Trust Co. of Vivian, La.,
Regions Bank, Capital One National Association,
First Guaranty Bank, and American Bank & Trust Company
Named in Class Action Suit
Action arises out of misuse of pre-paid funeral expense funds
Suzanne Smith-Upchurch has retained J. Patrick Hennessy and Billy J. Guin, Jr., to file a class action against William J. McGuire, McGuire Funeral Home, Citizens Bank & Trust Co. of Vivian, La., Regions Bank, Capital One National Association, First Guaranty Bank, and American Bank & Trust Company.† The suit arises out of alleged conversion of certificates of deposit by William J. McGuire.† Smith-Upchurch will function as the lead plaintiff on behalf of the affected parties.
ďI kept hearing a story on the news about how Jimmy McGuire was arrested for allegedly stealing money from the funeral policies of old people so I called the lead investigator, Jason Person, to find out the status of my momís prepaid funeral money. I found out it was gone, said Smith-Upchurch. ďMy mom is 94 living in a nursing home.† She canít hear or walk.† All I could think is how many more people are there like her who worked and saved to secure their funeral?† Who is representing them?† With Godís help, Iím willing to represent these individuals.Ē†
It appears that at least 80 individuals signed and paid for prepaid funeral agreements with McGuire Funeral Home.† The prepaid funeral agreement was to be secured with a pay-upon-death certificate of deposit (POD-CD) to McGuire Funeral Home upon the death of the named individual.† Some individuals received a copy of the POD-CD in the mail, but others did not.† Affected individuals can be included in the class action suit whether or not they have a copy of the POD-CD.
It is alleged that between 2003 and early 2008 McGuire cashed out or moved funds from POD-CDs from the named banks prior to the contracted individualsí deaths.† How he was able to cash out funds and what documentation was supplied to the banks for fund retrieval is being determined.
There may be other affected individuals with compromised health that may not be aware their prepaid funeral money is gone.†† Individuals or representatives of individuals having a Prepaid Funeral CD with McGuire Funeral Home may contact J. Patrick Hennessy at 318-221-8000 or Billy J. Guin, Jr., at 318-226-0993 for more information.