December 21, 2007
LANSING - Attorney General Mike Cox today announced that Carter Green of
Henderson, Nevada, was convicted as charged for his role in the embezzlement of
$70 million in cemetery trust funds.
"The defendants in this case were quite literally robbing from the dead," said
Cox. "We look forward to prosecuting the remaining defendant in this case."
Wayne County Circuit Judge Brian R. Sullivan found Green guilty after a bench
trial spanning three weeks.
Green was found guilty of 1 count of racketeering, a 20-year felony, and 3
counts of uttering and publishing, a 14-year felony.
At trial, evidence was produced that showed Green, 67, aided co-defendant
Clayton Smart in embezzling as much as $70 million in cemetery trust monies to
fund the purchase of 28 Michigan cemeteries and other improper purposes.
The crux of the evidence against Green revolved around a series of written
representations that Green made to auditors with the State of Michigan as well
as other private entities. Green represented that either he or his companies
were holding up to $25 million in trust money on behalf of Clayton Smart or
businesses associated with him. The Attorney General's investigation determined
that these representations were false.
There are only 152 cemeteries in Michigan required to place funds into a trust
under the law. Therefore, the 28 cemeteries that were owned by Clayton Smart
account for roughly 1 in 5 of all regulated cemeteries in Michigan. As much as
31% of all trust dollars in regulated Michigan cemeteries are involved in this
case.
Smart is incarcerated in Tennessee awaiting trial on similar charges and upon
conclusion of the Tennessee trial, Smart will be returned to Michigan to face
racketeering and other charges issued by Cox's office.
Green is due in court for delivery of a detailed finding of fact by the court on
January 9, 2008, and then again for sentencing on January 24, 2008.
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