Youpla directors pursued by Asic over collapsed funeral fund that hurt Aboriginal families

Corporate regulator launches court action alleging former directors oversaw structure that left members vulnerable

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The corporate regulator is pursuing former directors of a collapsed funeral fund that marketed insurance to Aboriginal families, over allegations they oversaw a vulnerable structure that exposed members to unaffordable premiums.

The Youpla Group schemes, formerly known as the Aboriginal Community Benefit Fund (ACBF), collapsed last year, leaving thousands of mainly low-income families unable to pay for funerals.

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