A financial adviser to a former Memphis cemetery owner has pleaded guilty to theft and money laundering charges.
According to a news release from the Shelby County district attorney general's office, Mark Singer and co-defendant Clayton Smart diverted money from the Forest Hill Cemeteries trust funds for their personal gain.
About $1.3 million went to accounts directly benefiting Singer.
The 47-year-old Singer pleaded guilty Thursday and was given a 10-year suspended sentence that he will serve on probation in his home state of New York.
Singer also was ordered to pay restitution consistent with a prior judgment holding Singer and others responsible for over $20 million in losses.
Smart, a former oilman who is from Okmulgee, Okla., was convicted of theft in Tennessee and Michigan earlier.
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