I'd call that nonsense, and something completely made up. I strongly believe that Karma is made up the same reason religions is. To hold on to something when you're sad or confused of why all this and that happens to YOU, and not the neighbour. I know a lot of good people with "Good" karma who have had nothing but AWFUL lives (some in my family actually). They are SO helpful, and so polite, and nice, but they can't take an education, can't take a job. Lives in a small apartment, can barely buy food, and one of them just comitted suicide. Where is the Karma here? Seriously? Where?
And don't say anything like: "He will be reborned as a great man, or an angel" or something no one has a clue about anyway.
/Rant
Not trying to be offensive, or insulting, just trying to prove my point, it hurts when people in your family comits suicide when they where NOTHING but good people.