Oklahoma Oilman Pleads Not Guilty

Wednesday, September 26th 2007, 2:08 pm
By: News On 6

MEMPHIS, Tenn. (AP) _ A not guilty plea has been entered for an Oklahoma oilman who is accused of stealing millions of dollars from a funeral home's trust funds.

An attorney for Clayton Smart entered the plea for his client Tuesday.

The 67-year-old resident of Okmulgee in eastern Oklahoma has been jailed since April on charges that he and associates stole millions of dollars from the Forest Hill funeral homes.

Smart announced in the summer of 2006 that the funeral homes would no longer honor more than 13,000 prepaid funeral policies.

The state later accused Smart and business partners of stealing operating money and raiding trust funds used to cover prepaid funerals and cemetery maintenance.

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