Structured Settlements 4Real®Blog 2026

Structured settlements expert John Darer reviews the latest structured settlements and settlement planning information and news, and provides expert opinion and highly regarded commentary. that is spicy, Informative, irreverent and effective for over 20 years.

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The STRUCTURED SETTLEMENTS 4REAL® Blog is a highly regarded source for structured settlement news, information, and commentary, led by structured settlement and settlement planning subect mater expert John Darer CLU ChFC MSSC CeFT RSP CLTC. With two decades of operation, the blog and 4structures.com are recognized as comprehensive resources, offering detailed guides and specialized insights. Established in 2005, the blog caters to a broad audience, including legal professionals, injured individuals, families, and various stakeholders, providing reviews and opinions on settlement planning. John Darer, President of 4structures.com LLC, is a seasoned structured settlement expert with over 40 years of financial services experience and 31 years specializing in structured settlements. Based in Stamford, CT, he is a Certified Financial Transitionist and Registered Settlement Planner, holding insurance licenses in 45 states and the District of Columbia. John Darer is dedicated to transparency and advocacy, he emphasizes the importance of engaging trained and licensed professionals for settlement planning, offering valuable insights through his investigative journalism and professional commentary.
  • Understanding Court Approval for Structured Settlement Payment Transfers

    Understanding Court Approval for Structured Settlement Payment Transfers

    by Structured Settlement Watchdog

    With Structured Settlement Payment Transfers Are Two Judges’ Heads are Better than One?

    Two judges needed for sell structured settlement approval

    • When it comes to structured settlement payment transfers, maybe two judges’ heads are better than one—after all, it’s harder to miss the fine print when you’ve got double the wig power.
    • Structured settlements are often preferred in cases involving minor plaintiffs, as they provide financial security over time.
    • Court approval is typically required when structured settlements are arranged for minors.
    • In some instances, multiple courts may need to be involved. For example, in a wrongful death case in New York where a minor is the payee, the settlement might be addressed by the Supreme Court, while distribution approval could fall under the jurisdiction of a Surrogate Court judge.
    • Protective measures to safeguard structured settlement payees became increasingly common following reports of abusive sales tactics by certain participants in the secondary market, which drew attention from both local and national media. These measures generally required that any transfer of structured settlement payment rights also receive approval from the original court, where judges were more likely to be familiar with the payee and the circumstances surrounding the original settlement.

    Moving Right Along…

    There might come a time when a minor relocates with their family multiple times for various reasons.

    • Parent change of job
    • Divorce of parents
    • Parent remarriage
    • Rehabilitation or injury to sibling requires specialized care in another states
    • Death of one or both parents
    • Child moves away for advance schooling
    • Child moves for an employment opportunity
    • Marriage
    • Natural Disaster
    • Fire

    Underlying Court Approval is Required

    For example, if you were a minor born in New York and living in Westchester County when your structured settlement was established, but later as an adult you move to Charleston, South Carolina, and choose to sell part of your structured settlement payments, you would need court approval in your current county of residence in South Carolina and also need to secure Underlying Court Approval (UCA) in Westchester County, New York. While this process might seem inconvenient, this “speed bump” is a safeguard against rushing through a transaction when potentially encountering unethical actors in the secondary market. 

    Structured settlement speed bump

  • Annuity Company was Sued After it Unilaterally Changed Structured Settlement Payments’ Due Date

    Annuity Company was Sued After it Unilaterally Changed Structured Settlement Payments’ Due Date

    by Structured Settlement Watchdog

    Can Structured Settlement Annuity Issuer change structured settlement payment dates for its own convenience?

    The above question stems from a class action lawsuit complaint filed in the District of Connecticut in November 2024, which was voluntarily withdrawn without prejudice the following month.  What Does Dismissed Without Prejudice Mean in Legal Terms? – LegalClarity

    An November 19, 2024 article by Allison Bell in Think Advisor discussed the Anthony Ortez-Diaz case shortly after it was filed. In short, she says that an administrator now processes all payments at the end of the month instead of being paid on the 3rd of the month. The plaintiff said that violates his contract.

    A preliminary matter to address is Allison Bell’s analysis of a lawsuit brought by a highly competent Stamford, CT law firm on behalf of a structured settlement payment recipient and others similarly situated. The case pertains to an alleged administrative action by Wilton Re following its 2021 acquisition of Allstate Life Insurance Company of New York. Bell’s assertion, made in the context of the reported case, that “Life and annuity issuers are realizing that millions of heavily customized life insurance policies and long-term care policies sold in the 1960s through the mid-1990s, before modern computer systems were in use, are starting to pay benefits” is highly implausible. The idea that these companies are only now becoming aware of this is absurd. With 42 years of experience in the insurance industry, including over 30 specializing in structured settlements, I find this claim irrelevant to structured settlements or the specific allegations against Wilton Re. If Bell suggests that Wilton Re lacks expertise or erred in its pre-acquisition cost-benefit analysis, relevant evidence should be presented to substantiate such a claim.

    The most relevant question being addressed here is the one posed at the beginning of this post: “Can a Structured Settlement Annuity Issuer Change Structured Settlement Payment Dates for its Own Convenience?”

    Background

    Allstate was a prominent and innovative issuer of structured settlement annuities until early 2013. Structured settlement annuities were issued in 49 states using Allstate Life Insurance Company as the structured settlement annuity issuer and using Allstate LIfe Insurance Company of New York when the settlement was concluded in a New York matter. In November 2021, the entities were spun off in two separate directions. Read the details in the following two links.

    Allstate Life Insurance Company—> entities managed by Blackstone (insurer renamed Everlake)

    Allstate Life Structured Settlements | What You Need To Know

    Allstate Life Insurance Company of New York———> Wilton Re

    Allstate – Business Wire Press Release – Wilton Re

    What was at issue?

    Lead Plaintiff : Anthony Ortiz-Diaz

    Origin of Structured Settlement: Settlement with National Rail Passenger Corporation (“Amtrak”)  Amtrak | FRA

    The Gist of Allegations

    • The plaintiff had been receiving monthly structured settlement annuity payments on the third day of the month for years.
    • In 2024, an administrator began processing the payments for all structured annuities at the end of the month.
    • The plaintiff says the new payment schedule violates the annuity contract terms.

    See Annuity Beneficiary Sues Reinsurer Over Payment Timing

    The Bigger Picture

    • Is this permissible?
    • Is this happening to others? If so, how often is it happening?

    How is a structured settlement established?

    How structured settlements work flow chart 2025


     

    Note that the Payee/former plaintiff doesn’t own the annuity contract. The annuity contract is a qualified funding asset used to fund an obligation to make future periodic payments. in the Anthony Ortiz-Diaz case the settlement agreement with Amtrak would have included:

    • an obligation to make periodic payments as part of the consideration for the settlement (Step1)
    • a qualified assignment (Step 2)
    • the purchase of any annuity contract(s) by the qualified assignment company as a qualified funding asset, which would occur only following the qualified assignment. (Step 3) Only under rare circumstances would a Defendant buy the annuity and hold it.

    A plaintiff would not be eligible to purchase a structured settlement annuity contract themselves.

    What was odd about the Policy Exhibit to the Complaint?

    The application attached as exhibit to the Complaint shows the $1,500 per month  for life, with 360 months (30 years certain) certain, but the policy does not.

    Allstate had a unique and peculiar way of issuing annuity contracts. All of the guaranteed and certain payments were typically on one contract (let’s call it the A contract) and any lifetime payments were on the B contract with the same contract number.

    When Allstate stopped writing business, this A/B peculiarity led to some odd occurences. Following are links to my two April 16, 2015 blogs which discuss this topic

    Allstate Life Structured Settlements | What You Need To Know (4structures.com) November 4, 2024 update

    Spin Offs to Piss Offs | Discontinued Lines Leave Allstate Customer Service Lacking – Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews

    Are Delays Related to Third Party Payment Servicers?

    Since 2023, Wilton Re has been using Alliance One Services for structured settlement payment servicing. Alliance One Services, Inc. is a company that provides various services, including third-party administration for insurance products and debt collection. It is a subsidiary of  DXC Technology, a Fortune 500 global IT services leader. In addition to Wilton Re, Alliance One also provides payment servicing to Genworth.

    Here is a 2024 blog I authored about the Alliance One experience of a Long Island annuitant in relation to another of Wilton Re’s acquisitions.  Mystery Surrounds Late EFT Payment to Long Island Structured Settlement Payee and Response – Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews  September 15, 2024

  • SellStructuredSettlement.Online manages to sidestep the basics entirely, delivering consumers a masterclass in confusion with a side of frizzled misinformation.

    SellStructuredSettlement.Online manages to sidestep the basics entirely, delivering consumers a masterclass in confusion with a side of frizzled misinformation.

    by Structured Settlement Watchdog

    If you want to learn about structured settlements visit How Structured Settlements Work: A Comprehensive Guide – Structured Settlements 4Real®Blog

    Let’s examine why sellstructuredsettlement.online is in serious need of improvement.

    Sell structured settlement online unreliable but funny

    How “thoughtful”.    A blog “Summery” in The Summer!

    How thoughtful! A blog “Summery” in the Summer

    • They ask  Is there government oversight, for companies that deal with settlements?
    • They say Structured settlement firms are overseen by regulations, at both the state levels to guarantee ethical standards and lawful adherence.
    • Can “rules” perform the physical act of overseeing?  Let’s solve this puzzle shall we?!

    What are Regulations?

    • State regulations, or administrative laws, are rules adopted by the executive branch and agencies of each state. These regulations provide guidance on how to follow the laws (statutes) passed by the legislative bodies of each state. In Connecticut, regulations are rules adopted by Connecticut state agencies and some boards and commissions. Regulations are adopted in Connecticut pursuant to the Uniform Administrative Procedure Act Chapter 54 of the General Statutes and the rules of the Legislative Regulation Review Committee (LRRC). Generally, a regulation must (1) be properly noticed, (2) have a public comment period, (3) be approved by the Attorney General as to legal sufficiency, (4) be approved by the LRRC, and (5) be filed in the Secretary of the State’s office. Source: Regulations in Connecticut eRegulations – eRegulations Information
    • “Regulations, on the other hand, are standards and rules adopted by administrative agencies that govern how laws will be enforced”   Source: FindLaw

    With few exceptions, regulatory oversight of sales practices of structured settlement factoring companies remains minimal-a flawed approach that has resulted in harmful consequences for over two decades. In many jurisdications, existing regulations fail to act as an effective deterrent or uphold ethical standards in transaction targeting vulnerable individuals

    • Despite the fancy title of “Structured Settlement Protection Acts” in all 50 states, and it taking two decades to get there—talk about a slow-moving train, only a few states bothered to regulate the shady sales practices of certain structured settlement settlement transfer companies.
    • Some acted only after scathing exposés uncovered shocking accounts of misconduct. Maryland, Minnesota, and South Carolina were effectively compelled into action by public outrage.
    • Fast forward to today, and just six states require transferee registration. Yep, Georgia, West Virginia, and Louisiana joined the party too. Six out of fifty—what a stellar accomplishment for the structured settlement secondary market and financial regulators in the remaining states!
    • A case pending in the District of Columbia involves a pillaging of a structured settlement of a woman with a 56 IQ who has only held employment for a grand total of 6 months in her life. DC has a structuredued settlement protection act and it utterly failed.this woman.. see my August 21, 2024 blog DC Lead Paint Victim with 56 IQ Exploited by Delaware Structured Settlement Factoring Company Says DC Lawsuit – Structured Settlements 4Real®Blog

    This past weekend I finished up the CE credits due biennially for my home state insurance license. I only needed 1 ethics credit but the course was for 3. I can think of a few partcipants in the structured settlement secondary market by name that might benefit from a course like this to rejigger their ethical compass away from claiming to be “from the Courts” while soliciting a 17 year old minor through his mother, or wearing a insurance company branded shirt in a Zoom call, or insurer logo wheel on theri webiste without having been appointed with any of the companies displayed.

    By the way, are you as curious as I am about “at both the state Levels” ? LOL

    A close-up of a frying pan with the words 'Frizzled-Misinformation' embossed on the surface, surrounded by scattered strips of cooked onions and oil.

    Does the Sale of Structured Settlement Payments Hinge on a Court “Sanction”?

    What are Court Sanctions?  Court sanctions are legal remedies imposed by a court to address violations of legal rules or misconduct by parties in litigation, aimed at maintaining the integrity of the judicial process.

    Sanctions are a completely different thing to the act of “approving a structured settlement transfer” or “making a finding that a structured settlement transfer is in the best interest of a proposed seller and any applicable dependents” of the proposed seller.

    My longstanding aim as the Structured Settlement Watchdog is to pave the way for accurate structured settlement information through critical commentary, education, and baloney detection.

    Last updated November 23, 2025

  • Leo J. Govoni and Accountant Arrested, Indicted for Embezzlement from Special Needs Trusts of the Disabled

    Leo J. Govoni and Accountant Arrested, Indicted for Embezzlement from Special Needs Trusts of the Disabled

    by Structured Settlement Watchdog

    Grand Jury Indicts Leo Joseph Govoni and John Leo Witeck

    Govoni along with John Leo Witeck, a 60-year-old accountant from Tampa who worked for him, was arrested on June 23,2025, in
    connection with a scheme that prosecutors allege involved embezzling over $100 million and ultimately causing the bankruptcy of the Center for Special Needs Trust Administration (CSNTA), a nonprofit organization based in Clearwater, Florida, that managed funds for vulnerable individuals with special needs and disabilities across the United States.

    Who is John Leo Witeck?

    1. The Center for Special Needs Trust Administration retained the accounting firm Fiduciary Tax & Accounting Services, LLC (“FTAS”), which was purportedly owned by a Mr. John Witeck (“Witeck”), to provide all required annual trust accounting and the tax filing services for each trust.  Source: CSNTA Bankruptcy filing Case 8:24-bk-00676-RCT Doc 7 Filed 02/09/24 Page 7 of 13
    2. The Center relied on FTAS to provide beneficiaries with the required annual accountings and paid FTAS approximately $650,000 annually for these services. Based on a review of the records filed with the Florida Secretary of State, Govoni formed FTAS. Golden, Govoni’s business partner, was the registered agent of FTAS at the time of its formation. Through its investigation, The Center confirmed that Govoni—not Witeck—does in fact own FTAS.  Source: Ibid
    3. In a lawsuit filed by a former beneficiary of an SNT administered by The Center, Witeck testified that Govoni created FTAS and currently holds a majority ownership interest in FTAS. Witeck explained that Govoni gratuitously transferred a minority ownership interest in FTAS to Witeck shortly after FTAS’s formation. According to Witeck, FTAS has prepared the trust accountings for The Center since FTAS’s founding, and 95% of FTAS’s work comes from The Center.  Source: Ibid
    4. Based on these facts, it is believed that Govoni formed FTAS and retained Witeck to prepare the required trust accountings specifically to ensure that Govoni could control the financial disclosures to The Center’s beneficiaries and to further monetize his relationship with The Center.  Source: Ibid

    “Witeck’s job was to protect the trust beneficiaries by providing accurate financial statements to them on a routine basis,” said Greg Kehoe, Interim U.S. Attorney. “He was supposed to keep track of their money, but instead he joined the fraud scheme and misled the victims.”  See Leo Govoni to stay in jail until trial, judge rules | WFLA

    The Grand Jury Indictment of Leo Joseph Govoni and John Leo Witeck

    The 32 page Grand Jury Indictment was filed June 18, 2025 in the United States District Court Middle District of Florida Tampa Division in United States of America vs Leo Joseph Govoni and John Leo Witeck Case 8:25-cr-00290VMC-NHA and was available online via PACER, unsealed at time of posting, alleges as sets forth therein, the following counts:

    COUNT ONE Consipiracy to Commit Mail Fraud and Wire Fraud 18 USC Sec 1341 and 18 USC Sec. 1343

    COUNTS TWO-FIVE  Mail Fraud

    COUNTS SIX-ELEVEN  Wire Fraud

    COUNT TWELVE  Money Laundering Conspiracy 

    The Indictment alleges that this continued through in or around May 2025

    COUNT THIRTEEN  Bank Fraud  (as to Leo Joseph Govoni)

    COUNT FOURTEEN Illegal Monetary Transactions (as to Leo Joseph Govoni)

    COUNT FIFTEEN  False Bankruptcy Declaration (as to Leo Joseph Govoni)

    Copy of Grand Jury Indictment Against Govoni and Witeck

    Download Govoni Indictment 6-18-2025

    United States Department of Justice Issues Press Release June 23, 2025

    Middle District of Florida | Florida Non-Profit Founder And Accountant Charged With Stealing Over $100 Million From Special Needs Victims | United States Department of Justice

    FBI arrests Leo Govoni after probe into missing $100 million June 24, 2025

    In the Lead Up to Leo Govoni Arrest

    Govoni given ‘final, final’ chance to avoid criminal contempt of court charge  Tampa Bay Times May 2025

    Leo Joseph Govoni Mugshot

    See Pinellas County businessman Leo Govoni criminally charged | WFLA

    Leo Joseph Govoni Denied Bail

    See Judge denies bail for Clearwater businessman charged in $100 million fraud | Business Observer June 23, 2025

    Victim Reactions to Leo J. Govoni Criminal Arrest

    ‘About darn time’: Victims’ families react to Leo Govoni’s arrest in $100M fraud case  WFLA NBC Florida June 24, 2025

    My prior blogs on Leo J. Govoni

    Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews: Leo J. Govoni

    How do you pronounce Govoni?

    Various news reports pronounce Leo’s surname as “GA-VAH-NEE”. When the late Richard Halpern warned me off who he referred to as “Phony Govoni”, more than 16 years ago (Halpern died in 2009), he pronounced it as ” GA-VONEY””

     

  • Henry County Georgia Closing in on 6 Years Record as Top Plantiffs Docket in USA

    Henry County Georgia Closing in on 6 Years Record as Top Plantiffs Docket in USA

    by Structured Settlement Watchdog

    Henry County has done it again to the delight of Plantiffs in Henry County Georgia.

    Henry County GA Lays Down Marker as it Nears Unassailable 6 Year Status as a Plantiff Venue

    Plantiff docket review shrubbery

    We’ve got a “Holy Grail” of Winners in Q2


    Henry County Calendar For Honorable Judge Chaundra D. Lewis ID:CDL Date:5/28/2025 5 pages of Plantiff Cases!

    I’ve traced Henry County’s plantiff docket back to November 2019. 

    The City of New York is Sued by Plantiffs in Civil Rights Case  April 25, 2025

    Plantiffs 1-3 v. The City of New York 1:25-cv-02397 (E.D.N.Y.) | Civil Rights Litigation Clearinghouse

    For PACER’s information on parties and their attorneys, see: https://www.courtlistener.com/docket/70026469/parties/plantiffs-1-3-v-the-city-of-new-york/

    Goldsboro North Carolina Plantiff Lawyers (as of June 21, 2025)

    Personal Injury Plantiff – Baddour, Parker, Hine & Hale, PC

    Montana Plantiffs

    Original Held v. Montana plantiff speaks about new federal lawsuit

    Plantiff Payor in Realtor Lawsuit Covered on Tik Tok

    Realtor Lawsuit Plantiff Payout 2025 | TikTok

    “Planting the Seeds” Early is Winning Strategy in Kings Park, New York

    William T. Rogers Middle School – Daily Announcements March 20, 2025

    “CONGRATULATIONS to our Student Court Club for their performance yesterday at the competition.  Our Defense Team won both the competition and case and our Plantiff Team won the competition.  We are so proud of the hard work of all of our members”.

    Plantiff Evidence

    XSane scanned image

    Amicus Brief in Support of Plaintiffs 2nd Amendment Rights

    DOJ Files Amicus Brief in Support of 2a Plantiff’s arguing IL Semi Auto Ban is UNCONSTITUTIONAL : r/Firearms

    Wow, Just Wow!  Photo’s and Plantiff Videos Too!

    103 Plantiff Stock Photos, High-Res Pictures, and Images – Getty Images

     

  • Unreliable Paymaster.Co Information | Bad Definitions | Billboards Dissolved Competitor to Fill Up Space?

    Unreliable Paymaster.Co Information | Bad Definitions | Billboards Dissolved Competitor to Fill Up Space?

    by Structured Settlement Watchdog

    Paymaster.co, one of the honeypots of unreliable information purporting to be about structured settlements, that are controlled by Crowfly RIP 2018-2022 Jovan Johnson, California lawyer and self proclaimed chocolate chip cookie lover, is missing a tombstone on one of the competitor websites listed on the site.

    Crowfly, LLC, was registered in New York 11-20-2017 and dissolved 10-21-2022, according to New York State public records. Then there’s this Crowfly.com for sale for $21K Plus Flag Day 2025 on GoDaddy. The ending for CrowFly was notably bookended by the local Buffalo media which boasted of glorious success in April 2022 and shuttering which was reported in August 2022.

    Jovan Johnson had previously billboarded the names of companies in the primary market to drive traffic to his websites, Paymaster.co and Annuitypaymentfreedom.Net. Highlighting this in my 2023 blog resulted in Johnson removing the names of structured settlement companies in the primary market after receiving calls from several of them.

    Structured Settlement Brokers Are Being Billboarded by San Francisco Lawyer Shilling Factoring – Structured Settlements 4Real®Blog 2025  April 2, 2023

    Tracking Misinformation from Jovan Johnson Honeypots Since the Beginning of the Decade

    Example 1

    What is a Structured Settlement Company?

    Jovan Johnson Inaccurate    A structured settlement company is either a broker that helps set up payment streams to meet legal requirements or a buyer that purchases structured settlements.

    Accurate  A structured settlement company is a term that may refer to:

    • a licensed insurance company that is issues structured settlement annuities;
    • a licensed agent or broker under state insurance law, that is appointed by a structured settlement annuity issuer and/or issuers to sell its/ or their structured settlement products to the public;
    • a licensed agency or brokerage under state insurance law, that is appointed by a structured settlement annuity issuer and/or issuers

    Explanation

    • Jovan Johnson lists companies that buy structured settlement receivables. 
    • Structured settlement receivables are not structured settlement annuities.  Source: National Association of Insurance Commisisoners Statutory Issue paper No. 160
    • Investors in Structured settlement receivables are expressly excluded from statutory protections in most states. See 2017 Revisons to Life & Health Guaranty Assocaution Model Act. 
    • While some of the companies listed by John may buy retirement annuities, none of the listed companies can buy structured settlement annuities because such annuities are usually purchased and owned by a qualified assignment company

    Example 2

    What is a Structured Settlement Buyer?

    Jovan Johnson Inaccurate   A structured settlement buyer is a company that provides cash up front to people with structured settlements in exchange for rights to future payments. These factoring companies normally buy future payments rights from structured settlements and annuity holders.

    Accurate   What is often referred to as a structured settlement buyer is a misnomer. A structured settlement buyer is an individual or company that uses its own or investors’ capital to buy structured settlement receivables, or portions thereof.

    Disclaimer

    The good natured Golden Gate Bridge image is not Jovan Johnson, however those are some tasty looking chocolate chip cookies and a honeypot. Who doesn’t like warm chocolate chip cookies, chocolate chip cookies as room temperature, or chocolate chip cookies with milk?

     

  • Structured Settlement Receivables Marketed to Investors via MJ Settlements’ Reckless Use of Trademarked Insurer Brands

    Structured Settlement Receivables Marketed to Investors via MJ Settlements’ Reckless Use of Trademarked Insurer Brands

    by Structured Settlement Watchdog

    MJ Settlements heads to potential showdown with insurers?

    • MJ settlements appeared to be trading on the goodwill and trademarked insurer brands for MJ Settlements profit
    • Falsely promoted sales of structured settlement receivables to investors as annuities using the insurers’ trademarked brands on MJ Settlements website as well as social media platforms.

    See below for an example.

    Wheel of Logos on MJ website 6-8-2025

    Captured 6-8-2025 solely as reference for critical commentary. Note logo and multiple references to annuities below the logos. Lesk led company was still using the life insurer logos when checked again on December 3, 2025

    Active Registered Trademarks of Structured Settlement Annuity Issuers appear on the MJ Settlements website Wheel of Logos

    Pacific Life

    Name  USPTO Serial Number 75207211  June 23, 1998

    Trademark Status & Document Retrieval

    Logo    USPTO Serial Number 75741937  December 18, 2001

    Trademark Status & Document Retrieval

    New York Life Insurance Company

    Logo  USPTO Serial Number 74154351  Registered June 30, 1992

    Trademark Status & Document Retrieval

    Name USPTO Serial Number 74237947 Registered February 2, 1993

    Trademark Status & Document Retrieval

    The Prudential Insurance Company of America

    Covered in my June 1, 2025 post MJ Settlements Using Prudential’s Registered Trademark to Pitch Structured Settlement Receivable to Investors – Structured Settlements 4Real® 2025

    CEO Lesk’s Expired Appointments

    • Pacific Life,  expired 2022
    • Pruco (a Prudential underwriting company, however not the one that issues structured settlement annuities), expired 2023
    • John Hancock, expired 2023

    Source: Florida Department of Financial Services  Licensee Detail

    MJ Settlements uses Trademarked logos of insurers with which neither MJ Settlements nor its CEO Todd Michael Lesk have held an apppointment in the home state of Florida

    • Symetra Life Insurance Company
    • Berkshire Hathaway
    • AIG

    It should be noted that AIG spun off its Life & Retirement Division in 2022, which was rebranded as Corebridge Financial. According to Florida Department of Financial Services, Lesk is still appointed with one of the Corebridge companies. Corebridge is not in the structured settlement factoring business.

    As previously reported June 1, 2024, Todd Lesk is the CEO of MJ Settlements according to his LinkedIn; his wife Ricia Lesk is the President according to Florida Secreatry of State records.

    What is Fair Use?

    Trademarks enable the public to recognize goods or services as originating from a particular source. A trademark owner can stop others from using its trademark to prevent confusion about the source of the goods or services. In some circumstances however, someone may use another party’s trademark if the use is considered a “fair use”. This “fair use” exception is recognized throughout most of the world. 

    MJ Settlements added the Wheel of Logos after my June 1, 2025 posting

    It is evident that MJ Settlements is utilizing the branded and registered trademarked logos of various life insurers—key brand identifiers of insurers currently issuing structured settlement annuities—to promote structured settlement receivables, which are not annuities.

    It appears to be intended to generate financial gain for MJ Settlements through the use of trademarked logos and brand identifiers featured on the company’s website.

    • A structured settlement receivable offered to by MJ Settlements (or any company in the secondary or tertiary market) does not qualify as a receivable in the form marketed to investors by MJ Settlements (or similar entities) until the transfer of structured settlement payment rights is finalized in accordance with IRC 5891 and applicable structured settlement protection acts.
    • Most structured settlement annuities are obtained by qualified assignment companies, not sold directly to individuals, when the settlement is set up. Since the ownership of the annuity doesn’t change in a factoring transaction, MJ Settlements and Lesk calling the receivables an annuity is, to put it mildly, both false and misleading.

    This activity pertains to companies with which Todd Lesk is not appointed to sell life insurance, and/or to place structured settlement annuities. The action of adding the wheel of trademarked insurer logos after my June 1, 2025 post is damning and indefensible, in my opinion. 

    Todd Lesk has been the CEO of two companies that have flaunted the use of Insurance Company Logos to sell receivables for more almost 15 years

    MJ Structured Settlement Annuities Using Insurance Company Logos   March 14, 2014

    How Big of a Problem is the Initial Interest Confusion created by the Secondary Market and Tertiary Market Trading on and Seeking to Profit From Insurer logos?

    Look no further than my May 4, 2025 post for another glaring example

    CBC Settlements Uses Trademarked Insurer Logos Claims to Work With Annuity Issuers to Get Best Price for Sellers – Structured Settlements 4Real®  

    The deliberate misrepresentation of structured settlement receivables as annuities propped up by the deliberate, unauthorized and deceptive use of insurers’ trademarked logos by anyone in the structured settlement secondary or tertiary markets in advertising needs to come to an end

    There is no gray area 

    1. National Association of Settlement Purchasers Statutory Issue Paper No. 160  (“not an annuity or insurance or product”)  Finalized April 6, 2019.
    2. 2017 Modifications to the Life & Health Guaranty Associations Model Act. You invest in receivables you could end up with zero if the insurer liquidates. Adopted by majority of US states. It applies retroactively. So an investor is not safe if  receivables were acquired before the effective date that a state adopts the Model Act. I’ve written about it extensively.
    3. “Receivables Purchase Agreement” is the name of the agreement that an investor enters into to acquire structured settlement receivables. If it were an annuity wouldn’t it say Annuity application?
    4. Definition of annuity under the laws of most states does not jive with those serving up the steaming bowl of bollocks bollognaise that investors are buying annuities instead of the receivables that MJ is selling.

     

  • Complex Arizona Factoring Litigation Settles After 5 years of Litigation in Maricopa County

    by Structured Settlement Watchdog

    On May 28, 2025, the parties in the below-captioned litigation jointly notified the Superior Court  of the State of Arizona in Maricopa County, “that they have reached a confidential global settlement of all claims, counterclaims, defenses asserted between them in the consolidated action The parties anticipate a stipulation for dismissal with prejudice within ninety (90) days. Given the number of parties and the complexity of legal issues, this time period is necessary to document settlement agreement and related documents and to ensure the performance of certain settlement obligations prior to dismissal”.  

    Clerk of the Superior Court
    *** Electronically Filed ***
    K. Higuchi-Mason, Deputy
    5/28/2025 10:11:07 PM
    Filing ID 19924542

    IN THE SUPERIOR COURT OF THE STATE OF ARIZONA
    IN AND FOR THE COUNTY OF MARICOPA

    Case No.: CV2020-004958
    Consolidated with Case No.: CV2020-013796
    CV2022-002266

    GENEX CAPITAL CORPORATION, a
    Delaware corporation,

    Plaintiff,
    vs.

    SEELEY CAPITAL MANAGEMENT
    INC., a Massachusetts corporation, et al.,

    Defendants.
    Case No.: CV2020-004958

    Consolidated with Case No.: CV2020-013796
    CV2022-002266

    RICHARD L. KEEFER and VICKI L.
    KEEFER, husband and wife, et al.,

    Plaintiffs,
    vs.

    GENEX CAPITAL CORPORATION, a
    Delaware corporation, et al.,

    Defendants.

    AND RELATED COUNTERCLAIMS

    CV2020004958-NOS – Notice Of SettlementDownload

    1 “Investor Plaintiffs” collectively refers to Plaintiffs/Counterdefendants Richard L. Keefer
    and Vicki L. Keefer, HunMi Pak, PANABCO, The Estate of E. Dwayne Walls, Barry
    Beitman, West Haven Fire Department, Sandi Haskell, and Weili Guo and Qingling Zhang.
    2 “NEAA Parties” collectively refers to Seeley Capital Management, Inc., John M. Bulbrook
    Insurance Agency Inc., New England Annuity Associates, LLC, Income Stream Funding
    Partners, LLC, Christopher Seeley, John Bulbrook and Jane Doe Bulbrook.

  • Evidence that “Justice Escrow QSF platform no more than Eastern Point Trust Co. QSF 360 platform by Another Name”

    by Structured Settlement Watchdog

    The legal case against Flatirons Bank and its cohorts in the joint venture operating as Justice Escrow grows stronger by the day, claim lawyers for Eastern Point Trust Company in a press release issued May 29, 2025.

    “Documents recently produced by certain governmental entities provide clear evidence that the Justice Escrow QSF Copyright claims platform is nothing more than Eastern Point Trust Company’s QSF360 platform by another name

    Dycio & Biggs Attorneys at Law, now intend to file a new complaint against Flatirons Bank and the other Justice Escrow defendants based on this newly acquired information.

    NEW Complaint will largely mirror the allegations in the prior complaint, while also materially expanding the named defendants and increasing the damages claims

    Necessarily, the original action was dismissed voluntarily, and not as a result of any court ruling, and in no way prejudices Eastern Point Trust Company from proceeding against the defendants in the forthcoming action, which shall take precedence over the prior proceedings”.

    Read Structured Settlement Watchdog blogs on the alleged Intellectual Property Infringement Matter

    Wyoming Town Nixes QSF Agreement with Flatirons Bank After Intellectual Property Infringement Claim – Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews  January 31, 2025

    Lovell Wyoming Ends QSF Business with Flatirons Bank and Justice Escrow after Eastern Point Settlement – Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews  March 7, 2025

    Eastern Point Trust Sues Flatirons Bank and Co-Conspirators Over Conspiracy and QSF Trade Theft – Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews  April 3, 2025 

    Copy of Eastern Point Trust Company Press Release May 29, 2025 Eastern Point Trust Company vs. Flatirons Bank et al.

    What Has Flatirons Bank Written?

    Chanel McDowell , VP Marketing and Client Experience at Flatirons Bank, according to her email signature, contacted me on April 30, 2025 at 5:43pm EDT, following the publication of a brief statement on the Justice Escrow website to make me aware id its existence. It was notably lacking a detailed point-by-point rebuttal.  Flatiron’s brief statement mentioned that

    Press Release – Justice Escrow, Powered by Flatirons Bank
    “Hello Mr. Darer,

    It was nice speaking to you on the phone. We’re reaching out to provide our formal response to the recent press releases issued by Eastern Point Trust Company regarding litigation involving Justice Escrow, Powered by Flatirons Bank.

    Below is our official statement addressing the matter for your publication, which can also be found on our website here: https://justiceescrow.com/press-release-april-2025. If you have any questions or would like to request further comment, please contact us at justiceescrow@flatirons.bank.

    “Flatirons Bank is aware of recent litigation initiated by a competitor regarding Justice Escrow. We (Flatirons Bank) believe these claims are entirely without merit and a poor attempt to disrupt innovation and client choice in the industry. We are confident that we will prevail under the law, and we look forward to a resolution that underscores the validity and innovation of our product“

    Update October 1, 2025: Flatirons did not offer a detailed rebuttal in the second quarter and seem to have either removed or made inaccessible (see the image below) the content previously available on their website at the link previously provided by Ms. McDowell , including the brief blurb mentioned in the previous paragraph.

    they have since filed a complaint against Eastern Point Trust Company on September 22, 2025… See Flatirons Bank v. Eastern Point Trust Company U.S. District of Wyoming 2:25-cv-00222.

    According to its May 2025 press release, Eastern Point Trust Company plans to file a new complaint but has not done so as of this update. To give readers a clearer perspective, I’m holding off on commentary until the filing is made and have taken the time to analyze both.

    There is (and should be) legitimate public and industry interest in what is happening and best practices in the context of

    • The use of Qualified Settlement Funds,
    • their connection to structured settlements,
    • and their implementation through a governmental authority as an alternative to a Court;
    • following best practices;
    • the impact of Dillon’s Rule;
    • the meaning of continuing jurisdiction and other issues that will undoubtably arise from the lawsuits.

    Who is behind Justice Escrow?   

    Town of Lovell Wyoming initially nixed the Town’s QSF agreement with Flatirons, after receiving Eastern Point’s Intellectual Property claim as was reported in the Lovell Chronicle and discussed in commentary in my January 31, 2025 blog linked above.

    According to the Lovell Chronicle, the town council was to meet at noon on Wednesday, Jan. 29, 2025 to discuss a proposed Compromise Settlement Agreement with Eastern Point Trust Company, but after an executive session, the council voted to table the settlement agreement and scheduled a second special meeting for the next day, January 30.

    According to the Lovell Chronicle, attending the January 30 meeting were Jakob Norman of Trial Lawyers for Justice from Bozeman, Montana, and Nick Coccimiglio of Justice for Life from Alpine, Wyoming, both of whom had worked with the town since the beginning on the QSF arrangement. (Lovell town) Attorney Rolin was traveling and attended the meeting by Zoom, as did several other persons from Flatirons Bank and other entities. A natural question to ask is who were the “several other persons and other entities”. See below for the answer.

    Timeline 

    January 24, 2025

    “Town Attorney Alexa Rolin talked to Lovell Town Counsel about a records request Lovell received in regard to the QSF Agreement with Flatirons Bank. In the notice it is demanding the Town terminate the QSF contract and advised that we are not to destroy anything information pertaining to the QSF Agreement. The request is generally a precursor to a lawsuit.

    Dan Anderson made a motion to move to Executive Session W.S.S 16-4-405 (iii) On matters concerning litigation to which the governing body is a party or proposed litigation to which the governing body may be a party. Second by Bob Mangus. All in favor. Motion passed.

    The meeting went into Executive Session at 11:39 am.

    The meeting was reconvened at 12:17 pm.

    Bob Mangus made a motion to Authorize legal counsel to draft a letter to terminate the contract with Flatirons Bank immediately and we will waive charging our legal counsel fees if they agree to the termination. Second by Carol Miller. All in favor. Motion passed.

    Lovell town meeting to approve termination of Flatirons contract.

    January 30, 2025   As reported by the Lovell Chronicle, the Lovell special meeting attended by among others settlement planner Nick Coccimiglio, lawyer Jakob Norman (as would be expected given their role in establishing the program with the town of Lovell)

    But I have learned with respect to the January 30, 2025 meeting,  through information that is publicly available to anyone, that that the “several other persons from other entities” referred to in the Lovell Chronicle report of the meeting included:

    • Multiple representatives of a life insurance company that currently issues structured settlement annuities. The representatives included the insurer’s CFO & Treasurer, an individual involved with strategic partnerships and direct and indirect sales efforts.
    • A settlement planner from California, other than aforementioned Nick Coccimiglio
    • Another settlement planner from Oregon, formerly President of the Society of Settlement Planners
    • The former CEO of a Life Insurance Company that issues structured settlement annuities and Delta Group, a structured settlement brokerage. It is worth noting that the LIfe Insurance Company in question made an announcement that another executive would be the new interim CEO earlier in January 2025,  as I reported in a blog published January 10, 2025 in New Leaderhip at Independent Insurance Group as Herrema takes over as Interim CEO – Structured Settlements 4Real® Blog 2025

    February 25, 2025  Lovell proceeds with settlement agreement with Eastern Point Trust Company.  According to Town of Lovell minutes, “Council was presented with Eastern Point Trust Company Settlement Agreement. Dan Anderson made a motion to enter into Eastern Point Trust Company Settlement Agreement and authorize the mayor’s signature. Second by Bob Mangus. All in favor: Dan Anderson, Bob Mangus and Carol Miller. Any opposed: Mike Grant. Motion passed”. 

    Last updated October 1, 2025

     

    Stay tuned