Structured Settlements 4Real®Blog 2026

by Structured Settlement Watchdog

There is a tendency among certain “hard core” elements of the structured settlement and settlement planning industry to use “promotional material” that has outlived its shelf life.

It is not unlike using a stale case to support a lawyer’s argument in Court when there is newer precedent.

Settlement Professionals (SPI) used outdated AIG “prop” to support solicitation to hire company

SPI dedicated an entire web page to what it calls the AIG “Smoking Gun” memo. 

Here are some comments on the SPI’s ” Smoking Gun memo:

1. The memo is 4 1/2 years old.
2. The management structure of the AIG structured settlement operation has changed in 4 1/2 years.
3. Kharyne Neptune is no longer AIG’s National Director of Structured Settlements, Ismael Acevedo is the current director. SPI has apparently neither made an effort to contact Mr. Acevedo nor made an effort to cite the current practice of the company.
4. The distributor of the AIG “smoking gun” memo, Nacado D. King, is no longer involved with the management of AIG structured settlement program.
5. Alfred W. Bodi is neither on the AIG panel of structured settlement brokers, nor President of Structured Financial Associates, Inc. (SFA)
6. The management of AIG has changed twice since the memo. Maurice R. Greenberg stepped down on March 14, 2005. He was replaced by Martin Sullivan who recently resigned and replaced by Robert Willumstad.
7. Maurice R. Greenberg’s nickname is “Hank” not “Mo” For a helpful reference, My Heritage is a website established in 2005 (3 years before Meligan’s post) which provide some breadcrumbs leading to indivdiuals alive or dead that are actually named or nicknamed ” Mo Greenberg” See Mo Greenberg Family History & Historical Records – MyHeritage
8. Since the “recent (2006) headlines” that SPI continues to highlight concerning Maurice “Hank” Greenberg (and highlght Eliot Spitzer) , Eliot Spitzer was elected Governor of the State of New York, and was later revealed to have participated in a high end prostitution ring and resigned as Governor due to the scandal.

9. While being the lone swimmer in shark infested waters is a powerful metaphor, the fact remains that more than one swimmer may not be enough…ask the survivors of “the USS Indianapolis… June 29, 1945” (the subject of one of the most bone chilling monologues in movie history delivered by the late Robert Shaw’s character, Captain Quint) Source: Movieclips.com

In my opinion the memo could have been written more clearly. As it was written there is a mixed message:

• The memo stated a recommended or preferred practice at the time not a mandate. I strongly suggest that anyone who has a question about AIG structured settlement program contact Ismael Acevedo, the indivdual running the program, at the time of publication, for the current facts rather than relying on SPI.
• Given that most structured settlement brokers are independent contractors working on commission, where would be the motivation to Illustrate a structured settlement quote that is not competitive, that is likely to reduce the chances that a savvy plaintiff or plaintiff attorney will accept a structure and to not meet the perceived 2004 goals stated in the memo?
• The “unless compelled” statement  selectively emphasized by SPI, contradicts the statement below.
• The memo states “Do not simply give AG or AI Life the last right of refusal but also the FIRST right of refusal. This can be achieved by running a cost per thousand (of the non AIG company) when you quote a case or by calling AG or AILife to see if they will match the other company by providing a day rate (daily rate) or by improving their rated age”.  Diversification question aside, if AG or AILife match the best rate in the market place where is the harm?

Message

• Aggressively pawning off an old memo as current fact just undermines the credibility of your argument.
• In the opening lines to a subsequent video on Approved Lists (Part 2) posted on Speaking of Settlements, SPI President Jack Meligan also mischaracterizes what the United States Constitution says. In the video Meligan says we should “listen to the founding fathers” and states “the problem with approved lists are it’s a violation of all of our constitutional rights to freedom of choice” .
• While I agree with Meligan that choice is desirable for plaintiffs I’m not sure that it rises to the level of a constitutional question.
• It’s also safe to say that in the year 1791 that neither James Madison, nor the rest of the Founding Fathers, had any idea what a structured settlement was!