by Structured Settlment Watchdog™
They say chronic liars tell so many lies that they can’t keep track of them all and eventually trip themselves up. This appears to be the case with David Springer
David Springer, the CEO of Sovereign Funding Group is an admitted fabricator, sworn to under oath June 28,2013.
The Mount Airy, MD resident, a Defendant in a lawsuit now coming to trial in August 2014. admitted to making up a bunch of fake names and creating fake Google Plus, Facebook and Linkedin profiles for them, created Better Business Bureau Profiles with some of these fabricatied characters which misrepresented his company to the BBB and consumers.
David Springer’s explanation for his alleged acts doesn’t hold water
In fact one of his fake identities, James Spelling, was created when he was working with Andrew Cravenho on SSQ [Cravenho sold out his interest in SSQ in 2011]. One of the others, James Goldstein, was created at least as early as June 2011. Following is an excerpt of my August 10, 2013 commentary about Springer’s deposition:
- “James Goldstein has a Blogger.com profile that states he has been on Blogger since June 2011 and garnered 147 views between then and 2013 when the following screenshot was captured. Download James Goldstein Blogger June 2011. The JG Wentworth and Woodbridge law suits did not commence until October 2011 and November 2011 respectively. Again David Springer admitted, under oath, to fabricating James Goldstein in his published June 28,2013 testimony in the Woodbridge law suit against him.
- David Springer has a Blogger profile that states it has been on since July 2011 and garnered 392 views. Download David Springer Blogger Profile since July 2011.
- As you can see David Springer’s Blogger profile was created one month AFTER that for James Goldstein and 3 months before David Springer and Sovereign Funding Group were sued by JG Wentworth and 4 months prior to being sued by Woodbridge.
- It is relevant in view of his testimony to include these words attributed to David Springer on his Blogger profile ”
For the full August 10, 2013 commentary please click here
In his pretrial submission, David Springer’s explanations about SFG only brokering, were inconsistent with a long list of consumer and investor facing marketing statements used within the relevant time period.
The following paid video testimonial was uploaded to YouTube on October 26, 2012 at a time when Springer was cloaked as the sock puppet phonus balonus James Goldstein out of a Rockville MD UPS store mailbox
Please note:
At 0:44 the “testatrix” discusses an offer to purchase made by Sovereign Funding Group
At O:53 refers to a call made to the Better Business Bureau concurrent with the time period that David Springer admitted to creating fabrications “James Goldstein” and “Sandy Jackson”, the fake names used by Springer in his submission to the Sovereign Funding Group BBB report that is being promoted by the video.
On the Sovereign Funding Group website at time of posting there are three video links touting Sovereign Funding Group as a Buyer of structured settlements.
- 10/26/2012 (above) “Sovereign Funding Group Buys Structured Settlements”
- July 2, 2011 WordPress ” Sovereign Funding Group has been buying structured settlements and annuities for over 10 years and we have pioneered our own step by step process for quickly and efficiently purchasing structured settlement and annuity payments”. (emphasis added)
- June 24, 2011 WordPress “Sovereign Funding Group has been buying structured settlements and annuities for over 10 years… You can take comfort that you are in the hands of one of the most experienced and knowlegable structured settlement buyers in the industry”. (emphasis added)
- 2011 David Springer/SFG registers as uses the domains”webuypayments.net and webuypayments.com
- Current SFG website “Sovereign Funding buys fully guaranteed structured settlement annuities.” (emphasis added).
Comments
Sovereign Funding Group misleads investors because, if it is a buyer, it buys structured settlement payment rights or receivables, not structured settlement annuities.
When a structured settlement factoring transaction is concluded, the annuity itself remains with the owner, typically a qualified assignment company.
- Didn’t David Springer state in a May 2014 court submission that SFG was a broker, not a buyer?
- Which statement is true and how would a consumer or investor know? Is David Springer’s statement, if true, an admission of the corollaryof his statement, false advertising?
- What would David Springer say if he/SFG hadn’t been sued by JG Wentworth and Woodbridge?
Better Business Bureau of Greater MD was on David Springer’s case in April 2011 and July 2011 about Advertising claims
“October 15, 2011 Better Business Bureau of Greater Maryland stated “In April 2011, in accordance withe the BBB Code of Advertising, BBB reviewed the website of Sovereign Funding Group and requested they substantiate the claims they are a “nationwide industry leader, that they are ‘offering higher lump sum payments,” and that they offer vastly superior customer service”. The company was asked to provide comparative data regrading their competitors which supports those claims of superiority. In response, the company made a number of changes to the content on their website, but in July 2011, the new text continued to make claims of superiorityfor which the BBB requested substantiation, modification or discontinuance. The company (SFG) did not respond to that request” Download Sovereign Funding Group Business Review in Columbia, MD – Maryland BBB 9-29-2011 [scroll down to the top of page 2]
This BBB verbiage appeared until at least March 6, 2012. when the BBB seal was taken off the SFG website.
It may be worth noting that the “webuypayments.net redirect scheme” was hatched at the same time as the BBB inquiry.
Ayn Rand Said it Well in Atlas Shrugged
“People think that a liar gains a victory over his victim. What I’ve learned is that a lie is an act of self-abdication, because one surrenders one’s reality to the person to whom one lies, making that person one’s master, condemning oneself from then on to faking the sort of reality that person’s view requires to be faked…The man who lies to the world, is the world’s slave from then on…There are no white lies, there is only the blackest of destruction, and a white lie is the blackest of all.”
― Ayn Rand, Atlas Shrugged
Abe Lincoln on Fooling People
“You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time.”
― Abraham Lincoln
The Truth
“I always say the truth is best even when we find it unpleasant. Any rat in a sewer can lie. It’s how rats are. It’s what makes them rats. But a human doesn’t run and hide in dark places, because he’s something more. Lying is the most personal act of cowardice there is.”
― Nancy Farmer