by Structured Settlement Watchdog®
The Terrence Taylor and Michael Lafontant cases seem to be just the tip of the iceberg folks.
More stories have emerged about cash now pushers who have first harassed and then preyed upon unsophisticated and or impaired annuitants from New York and elsewhere, to encourage them to sell their structured settlements to invest in speculative real estate in Florida or elsewhere. I've recently learned of even more cases where transfer petitions have been filed in cash now pusher friendly forums where the annuitant is not domiciled. Moreover the annuitant is coached not to appear the court room and there is no independent financial advice.
Any investigation of these activities must focus on 3 areas
- Reckless business conduct of the settlement purchaser/cash now pusher in the solicitation and sale to unsophisticated or impaired individuals;
- Irresponsible judicial conduct by a judge in discharging his/her responsibilities under the structured settlement protection act, in particular the best interest standard;
- Business conduct of any financial professionals and/ or firms associated with the approach of the cash now pusher. Worth exploring are any tie-ins between the settlement purchaser and sources of unsuitable investment advice
More details to follow.