by Structured Settlement Watchdog
DRB Capital LLC has established a private whistle blower fund to reward individuals who come forward with information proving violations of various laws in
connection with the business of purchasing structured settlement payment rights, including violations of the tax code, violations of state structured settlement protection acts, improper forum shopping, violations of federal deceptive and unfair trade practices acts, and federal excise tax evasion.
In an August 8, 2018 press release, DRB Capital said that in order to be eligible for a reward, your information must be accurate and show these violations to a satisfactory legal standard. You may be required to give testimony to law enforcement and/or in legal proceedings.
What Violations of Law Have Inspired DRB Capital To Put Up a Bounty?
DRB is offering a reward to those who provide information proving violations of state or federal laws by people or entities in connection with purchasing structured settlement payment rights, including without limitation:
- violations of the internal revenue code section 5891
- violations of state structured settlement protection acts
- improper forum shopping,
- suborning perjury by, among other things, making consumers execute affidavits containing false information about their residence and other matters
- violations of federal and state Deceptive and Unfair Trade Practices Acts.
- DRB is seeking information on abusive and unfair trade practices including extortive behavior and practices against sellers.
DRB states that it is not asking you to undertake an investigation or gather new or additional information—this program only applies to situations in which the individual already has specific and direct knowledge of such violations of law.
DRB's Dramatic Action Suggests That There is No Doubt That These Very Serious Violations Are Occurring
A spokesman for the company said "In DRB's opinion, a number of bad actors are engaged in illegal, unfair and abusive/deceptive behaviors and these firms have besieged legitimate companies and consumers in this market. We are committed to rooting them out and bringing them to justice. Sunshine is the best disinfectant and we intend to provide evidence unearthed by this program to relevant State Attorneys General, the IRS, and the CFPB. In addition we will use it in direct legal actions against these malefactors and the individuals responsible for this reprehensible conduct."
I'm not ready to start back slapping DRB Capital CEO JIm Terlizzi just yet, but it's a step in the right direction. The structured settlement factoring industry has been on the expressway to the bottom for many years. But it's not about them, it's the people that are getting screwed over and lives ruined whose stories need to be told.
Who is DRB Capital?
DRB Capital is a structured settlement buyer backed by The Blackstone Group, with its offices in Delray Beach Florida.
Ongoing skermishes in the Structured Settlement Factoring War
Buja v Novation Funding- a battle over the volume of Novation's alleged harassing phone calls and alleged violations of the Telephone Consumer Protection Act (pending since 2015) pending in United States District Court Southern District of Florida West Palm Beach Division, civil action number 9:15-cv-81002-KAM. In April 2018, Novation apparently conceded to over 113,010 calls to 3,577 accounts!