Million Dollar Grave Robbing Case Involves Three States

Clayton Ray Smart, a gas and oil speculator from Oklahoma, was apprehended on Thursday after taking $70 million dollars set aside for cemetery upkeep on several Michigan cemeteries he owned. He used the money to then purchase funeral homes and cemeteries in Tennessee. His business dealings in both Tennessee and Oklahoma are now under investigation after what occurred in Michigan came to light. "Under Michigan law, a percentage of every such sale must be placed in trust funds to perpetually maintain the cemeteries and to provide consumers the burial merchandise when needed." (Sinclair) State officials in Michigan hope that his arrest will help them recover the $70 million dollars diverted from the cemetery trusts funds.

However, Smart also faces criminal charges outside of Michigan as well. In Tennessee, officials have discovered $20 million dollars missing in trust funds there. In addition, Smart is not the only one facing criminal charges. The previous owner of the 28 cemetery locations Smart purchased in Michigan, lawyer Craig R. Bush. "Previous court filings accused Bush of abandoning his fiduciary duty to protect the trust funds and taking part in a scheme to personally profit at the expense of innocent consumers." (Sinclair) According to documentation in the case, no money changed hands in the deal. Instead, Smart kicked back $20 million dollars in cemetery funds and promised to absorb Bush's debts tied to the cemetery properties, which amounted to $6.5 million.