MJ Settlements, a Coral Springs, Florida company led by CEO Todd Lesk, claims to offer structured settlement annuities, though the facts seem to tell a different story
Todd Lesk was permanently barred from FINRA in October 2023.
Despite being permanently barred by FINRA, Lesk’s LinkedIn profile, both at the time of posting and still as of the latest update, lists under Licenses and Certifications the FINRA Series 24, 6, 7, and 63, along with Lesk’s FINRA reference number 2788300, which confirms that Lesk is indeed permanently barred. As the Latin phrase goes, res ipsa loquitur.
Although structured settlement annuities are off-limits for sale, safely tucked away under the watchful eye of a qualified assignment company, MJ Settlements boldly trumpets the sale of structured settlement receivables as “annuities” (spoiler: they’re not) with a whopper so big it practically does cartwheels across its website.
They claim “SSAs are backed by prominent insurance companies with high ratings, providing a reliable level of security. safety and predictability, especially valuable in a volatile investment environment. The only difference is that with MJ Settlements, you’ll get higher yields.”
The former name of MJ Settlements was MJ Structured Settlement Annuities (MJSSA).
Lesk and/or MJ Settlements still does not and cannot sell structured settlement annuities to investors today, just like they have not sold over the last 15 years under either entity, despite his/its bogus marketing. Investors beware.
In my June 6, 2025 blog, I exposed how MJ Settlements recklessly utilized trademarked insurance company logos to reinforce their misrepresentation to investors. After my blog post and subsequent notification to the affected structured settlement annuity issuers, those logos were removed. See MJSettlements Reckless Addition of More Annuity Issuer Trademarked Logos to Sell Receivables Not Annuities – Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews
What if MJ Settlements were selling an annuity? How does the MJ Settlements FAQ align with Florida’s Rebating Statute?
- Claim that it’s a structured settlement annuity (as per FAQ above)
- MJ Settlements CEO has a Florida insurance license (Florida DFS)
- Claim that with MJ Settlements you will get a higher yield (as per FAQ above)
Florida law regulates rebating to maintain fairness and prevent unethical sales tactics. The primary statute governing this practice is Florida Statute 626.572, which outlines the conditions under which rebating is permitted. This law is part of the broader Florida Insurance Code, enforced by the Florida Department of Financial Services (DFS) and the Office of Insurance Regulation (OIR). These agencies ensure compliance and protect consumers from deceptive practices.
“Any rebate program must be filed with the insurer and consistently applied to all qualifying policyholders. Insurers cannot prohibit agents from offering legally compliant rebates. This ensures transparency and prevents companies from imposing internal policies that contradict state law”.
So if Todd Lesk as CEO is ginning up investors with the promise of higher yield for ” Structured Settlement Annuities”, has Lesk filed the rebate schedule in compliance with Florida statute 626.572?
OR
- Is it really not an annuity?
- Lesk is not even appointed with many of the annuity issuers underlying the receivables per Florida DFS; and
- Is MJ Settlements is engaging in false and misleading advertising?
Lesk and MJ Settlements cannot have it both ways.
The State of Florida may need to examine this issue, along with every state in the United States where Lesk and MJ Settlements operate. Currently, Lesk, the CEO of MJ Settlements, who holds an active insurance license in Florida, appears to be disregarding Florida statutes (and similar statutes in other states) by advertising and misrepresenting structured settlement receivables to consumers as annuities.
2021 Florida Statutes 627.4554 Annuity investments
(2) b) “Annuity” means an insurance product under state law which is individually solicited, whether classified as an individual or group annuity.
What Lesk and MJ Settlements are selling is not an insurance product. In addition to Florida, see the National Association of Insurance Commissioners Statutory Issue Paper No.160 (finalized April 6, 2019). Also see 2017 Revisions to the Life & Health Guaranty Associations Model Act, adopted by the majority of US states, including Florida.
Lesk and MJ have been exposed for using insurer names and logos to gin up investors. Following is yet another recent example
Outrageous MJ Settlements Tweet of April 16, 2025 (still posted)
MJ Settlements posted and maintains the following advertising, without any disclaimer, that falsely implies that “US Life Insurance Comp” has had a rate hike. The use of a Bank Vault and pallet of cash also present a mischaracterization of the risk profile of the receivable. The investor would have no contact with US Life. There is no disclosure that there is any payment servicing which would be the case for any such receivable. Several words come to mind ” SuttonPark” and “NIghtmare”.
The Florida Department Financial does not show that Lesk is appointed with the insurer who being used to attract investors. Nevertheless what is on offer by MJ Settlement is not an annuity no matter what Todd Lesk or MJ Settlements is representing it is in their tweet or any other marketing materials such as their buyers guide imaged above.
Consumers deserve the clearest path to accurate information about structured settlements. They should not be subjected to misleading advertising about potential investments.
The three images in the body of this post captured between 7-20-2025 and 7-23-2025 were used solely for reference purposes for critical commentary provided in the public interest and no independent rights are claimed.
“When an original structured settlement annuity is sold, either partially or in full, it then becomes known as a Secondary Market Structured Settlement Annuity. MJ Settlements offers their investors the safety and guarantee of high yield Secondary Market Structured Settlement Annuity”
“How Safe are Structured Settlement Annuities” appears in the FAQ section of the MJ Settlements website
Todd Lesk holds an active life insurance license in Florida*; however, Todd Lesk is not appointed with any structured settlement annuity issuer.
*Todd Lesk is appointed with two annuity issuers in Florida according to public records See Lesk Licensee Detail. None of the two annuity issuers Lesk is appointed with issue structured settlement annuities.