by Structured Settlement Watchdog
Why does MJ Settlements feel the need to lie to make money?
A. Falsely advertised structured settlement receivable as an annuity on Linkedin
“MJ Settlements occasionally posts its “Deal of the Day” on LinkedIn, which highlights a specific structured settlement annuity for sale, providing details like payment amounts, future dates, and the fixed interest rate. For example, one recent post featured a “MetLife-backed deal” with a 7.00% effective interest rate, offering monthly payments for a period of years”.
What MJ Settlements has been promoting to investors as an annuity on Linkedin is not actually considered an annuity under state insurance law
- If you’re a senior and think MJ Settlements is selling you an annuity, think again.
- If you’re a senior thinking you’ve just scored a real structured settlement annuity from MJ Settlements, CEO Todd Lesk, or marketing maestro Dan Shaff, it might be wise to holster that pen and moonwalk out of the room.
Following is a sample of the Definition of annuity under state laws so you can see for yourself, if you wish
- FLORIDA Chapter 627 Section 4554 – 2021 Florida Statutes – The Florida Senate
- GEORGIA Annuity | Office of the Commissioner of Insurance and Safety Fire
- SOUTH CAROLINA Code of Laws – Title 38 – Chapter 69- – INSURANCE
- ARIZONA Guide_to_Annuities_for_Seniors (2)_0_0.pdf
- NORTH CAROLINA Annuities | NC DOI
- MASSACHUSETTS Annuity Basics | Mass.gov
- TENNESSEE 0780-01-86.20230417.pdf
- NEW YORK Life Insurance: Annuity Products in New York | Department of Financial Services
- TEXAS SECTION 4.2304. Definitions, DIVISION 1. ANNUITY CONTRACT DISCLOSURES, SUBCHAPTER W. ANNUITY DISCLOSURES, CHAPTER 4. LIFE AND ANNUITY, PART 1. TEXAS DEPARTMENT OF INSURANCE, TITLE 28. INSURANCE, Texas Administrative Code
- CONNECTICUT Sec. 38a-432b. Regulations concerning solicitation and sale of life insurance and annuities to senior citizens. Disciplinary action. (a) The Insurance Commissioner shall adopt regulations, in accordance with the provisions of chapter 54, to (1) prevent misleading and fraudulent marketing practices with respect to the solicitation and sale of life insurance or annuities sold to senior citizens, and (2) set standards for the use of senior-specific certification and professional designations used in the solicitation and sale of such life insurance and annuities.
There is no wiggle room.
Helpful Tip If ANYONE is still trying to sell you a structured settlement receivable masked as “an annuity”, ask them to certify in writing that you are buying an annuity under state law and then verify independently. Don’t act and ask questions later, Chances are that they won’t certify..
In Florida and many other states, laws prevent businesses from making false claims about a product’s quality or purpose, or from giving consumers a misleading idea of what they’re purchasing.
WHAT IT IS, IS WHAT IT IS
B. MJ Settlements Lies about Return on Investment
What is Return on Investment?
Return on Investment (ROI) is one of the most basic of financial calculations. See the formula in the illustration to the right.
- MJ Settlements on the otherhand presents the return as the total amount that you receive including your original investment in a pitch to investors on LinkedIn (see screenshot image* below). The investment is $13,477 and the investor must wait until December 10, 2033 to receive a single lump sum of $23,000.
- Gee whiz! Is the ROI $23,000 or is it $23,000 minus the original investment of $13,477 which equals $9,523?
- Funnily enough the “Interest Rate” corresponds to the Internal Rate of Return IRR
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SIDE BAR
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Let’s dive back into the mystery of MJ Settlements’ inaccuracies, where facts seem to take coffee breaks!
- To make things even more absurd, MJ Settlements keeps playing a losing game of “Guess Who?” with the life insurance company. They repeatedly refer to the company that issued the annuity—where the structured settlement payment rights (the receivable investment) originated—as “Prudential Life Insurance Company.” But does “Prudential Life Insurance Company” even exist? Nope.
- If MJ Settlements’ CEO Todd Lesk took a moment to check out the Prudential website for structured settlements, the facts might hit Todd Lesk like a “piece of The Rock.” Structured settlement products are insurance contracts provided by The Prudential Insurance Company of America (PICA), based in Newark, NJ. Annuity Structured Settlements | Prudential Financial.
MJ Settlements previously used the trademarked logo of The Prudential Insurance Company of America and other life insurer trademarked logos to perpetuate the false narrative. Following the posting of my prior blogs and notice to the insurers MJ Settlements removed the trademarked logos.
*screenshot image, captured August 26, 2025, used solely for critical commentary. No copyright claimed.
Related reading about why receivables are not structured settelment annuities or annuities at all.