by Structured Settlement Watchdog®
The fallout from the 234 forged structured settlement transfer orders by a former Paris & Chaikin employee continues
On December 4, 2015, 4 Travelers Insurance entities filed a lawsuit in the Supreme Court of the State of New York, for the County of New York against the New York City plaintiff personal injury firm that also represents companies that buy structured settlement payments rights owned by clients of other members of the New York State Trial Lawyer Association and the the New York Academy of Trial Lawyers and their clients, alleging fraud against all Defendants and other personal injury lawyers.
The Complaint against Paris & Chaiken and the Factoring Defendants speaks for itself
The Travelers Indemnity Company, Travelers Casualty & Property Company, United States Fidelity & Guaranty and St. Paul Fire & Marine Insurance Company, Plaintiffs vs Paris & Chaikin, PLLC, Ian M. Chaikin, JG Wentworth LLC, JG Wentworth Origination LLC, Peachtree Settlement Funding LLC, Settlement Funding of New York LLC, Stone Street Funding, LLC, Imperial Holdings, LLC, Washington Square Financial, LLC, Ash Square Funding, LLC, Woodbridge Structured Funding, LLC (Index 654048/2015) Download Complaint Travelers v Paris and Chaikin et al over NY Structured Settlement Transfer Order Forgeries
Defendant Washington Square Financial is also a Defendant in another lawsuit alleging fraud currently pending in the United States District Court for the Southern District of New York
Reminder
- While those that place structured settlement on the front end hold insurance licenses, there is no licensing or regulatory oversight of the people and companies who operate in the structured settlement factoring space as brokers or purchasers.
- Individuals with criminal records, including a Ponzi schemer, who did jail time and another who still owes millions in restitution participate in the space due to lack of regulation.