by Structured Settlement Watchdog®
Forged Judges Signatures on Hundreds of Structured Settlement Transfer Orders in NY and FL Haunt Secondary Market
Settlement purchasers, affiliate marketing companies, independent professional advisers and even lawyers representing structured settlement purchasers have captured attention for the wrong reasons.
1. What was forged?
Hundreds of structured settlement transfer orders were forged in separate cases, involving 2 perps, one a paralegal for a New York City law firm and another a Miami lawyer who did his alleged forging of Orders in Broward County Florida.
For an individual to sell structured settlement payments, a judge must approve the structured settlement factoring transaction (commonly referred to as a “structured settlement transfer”) as being in the best interest of the seller and any applicable dependents. A structured settlement transfer order, also known as a Final Order Approving Transfer of Structured Settlement Payment Rights, has been forged by the perpetrators involved in both the New York cases and the Broward County, Florida cases.While different perps were involved at least one of the ame factoring companies was victimized.
2. What was NOT forged?
Structured settlements were NOT forged. Structured settlement annuities were NOT being forged.
3. The Cast of Alleged Forgers of Structured Settlement Transfer Orders
The New York forged structured settlement transfer orders involved forged signatures of 76 New York Supreme Court judges across New York State and 234 counts of forgery by Thomas Rubino. Rubino, who was employed at the New York City personal injury law firm of Paris & Chaikin at the time of his alleged crimes, has admitted to the forgeries according to published reports.
The Florida forged structured settlement transfer orders involved forged signatures of 7 judges in Broward County Florida and at least 104 counts of forgery by Jose Manuel Camacho, Jr., 46, of the Camacho Law Group PA , in Miami who was licensed to practice law at the time of his alleged crimes. Upon information and belief, Mr. Camacho surrendered his law license in August 2015.and has been disbarred.
4. Which settlement purchasers did the alleged forgers represent?
The alleged criminal that was formerly employed by Paris & Chaikin, Thomas Rubino (who admitted to the forgeries) did not represent anyone. We can deduce however, from the names of clients who subsequently filed against it for legal malpractice against Paris & Chaikin. Paris & Chaikin has represented JG Wentworth, Stone Street Capital and Woodbridge Structured Funding.
Upon information and belief that corrupt lawyer Jose Manuel Camacho Jr., who admitted to the forgeries, represented at least two if them.One could say that Camacho fed them at their Annual Meeting and then one could also say that he fed off of them.
5. What is a structured settlement?
In IRC 5891(c)(1) the definition of structured settlement is “for purpose of this section” an arrangement—
(A) which is established by—
(i) suit or agreement for the periodic payment of damages excludable from the gross income of the recipient under section 104(a)(2), or
(ii) agreement for the periodic payment of compensation under any workers’ compensation law excludable from the gross income of the recipient under section 104(a)(1), and
(B) under which the periodic payments are—
(i) of the character described in subparagraphs (A) and (B) of section 130(c)(2), and
(ii) payable by a person who is a party to the suit or agreement or to the workers’ compensation claim or by a person who has assumed the liability for such periodic payments under a qualified assignment in accordance with section 130.
6. What is NOT a structured settlement?
- The act of purchase of structured settlement payment payment rights is not a structured settlement. It is a structured settlement factoring transaction.
- The act of sale of structured settlement payment rights by the original payee (or payee’s beneficiary of a structured settlement) is not a structured settlement. It is a structured settlement factoring transaction.
- If you are investing in structured settlement payment rights, that is not a structured settlement either. When you are investing in structured settlement payment rights you are not buying an annuity. You are buying a derivative.
7. What is a structured settlement lawyer?
A structured settlement lawyer is a lawyer who represents structured settlement buyers or sellers, or a lawyer who provides independent professional advice in connection with structured settlement factoring transactions or structured settlement transfers. The term could also apply to a lawyer who represents insurers in structured settlement factoring transactions. At the time of the forgeries that he admitted to, Jose Manuel Camacho, Jr was a structured settlement lawyer. Thomas Rubino however, was not a structured settlement lawyer, the partners who were meant to supervise Rubino’s work were..
8. When did did the forgeries of structured settlement transfer orders take place?
Upon information and belief the aforementioned structured settlement transfer orders were forged in the last 3-4 years, although further investigation is necessary to confirm if the practice started earlier. This author observes that the this time frame has seen the aggregation of some of the worst business conduct in the 20 or so year history of structured settlement factoring.
9. When were the forged structured settlement transfer orders discovered?
- The New York forgeries were discovered in 2013 and awareness grew after Paris & Chaikin approached several clients to make them aware of the situation. Rubino initially went on the lam, but was eventually arrested in 2015.
- The Jose Manuel Camacho, Jr. forgeries of 7 Broward County judges were discovered in 2015 and remarkably were kept quiet for 8 months. Not a peep in the South Florida press for months. Hmmm.
Postscript
Both Rubino and Camacho were convicted and sentenced to time in prison. Camacho was disbarred.