Youpla director says he tried to save the business, advocates want an investigation

The director of an embattled funeral insurer that has left thousands of people without cover says he tried his best to save the company and protect its customers. Key points: Youpla funeral funds went into liquidation in March this year Liquidators are investigating millions of dollars paid in dividends over decades Advocates want the regulator to "vigorously investigate" possibility of insolvent trading For three decades, Youpla Group — formerly known as the Aboriginal Community Benefit Fund — provided funeral insurance to help First Nations Australians give their loved ones a dignified burial. "It was a very disappointing result for me personally that we couldn't save the company," Mr Wheeldon said. Alan Gray from Bush Money Mob said financial counsellors had been "vigorously" questioning whether the directors of Youpla had been trading while insolvent. Mr Stimpson said "various directors" of Youpla may have committed a number of offences, including improper use of position and/or information to gain an advantage to the detriment of the company.