by Structured Settlement Watchdog
Here's a cautionary tale for investors in structured settlement payment rights that also may be of interest to to the New York Attorney General. Michigan and and Virginia Attorney Generals.
Andrew Hoffman, being deposed in 2016 as a defendant by Client First Funding's lawyer stated some notable things under oath about "establishing residency"
Q. You indicated that there were instances of clients being brought to Florida for deals"
A. Andrew Hoffman "Not Florida Just places in general
Justin Cain and Johnny Sue Anderson are two of the annuitants named. " Justin Cain from Michigan,Johnny Sue Anderson from New York" and the Hamilton--Samuel Hamilton from New York as well"
Q. Let's start with Johnny Sue Anderson. Who Is She?
A. Andrew Hoffman "She was a prospective client of Al Mogavero. Fortunately she got denied in New York one or two times if I remember right. So Allen told us that he was upset that he had to because he wasn't too fond of flying, so he told us that, you know he was instructed to fly to New York, drive her to Virginia for about three-day spell to establish residency in the State of Virginia in an apartment complex So as the three day ended they had her sign in Virginia as well. Then he drove the whole family back to New York. He flew from New York back over to her--she needed some type of--she got mail or something showing her proof of residency so Allen flew to Virginia got it of her mailbox, flew back to Florida, she was never there at any time, if I remember, and then they got the deal done in Virginia. Unfortunately she ended up passing away during the funding process of the deal, but that's what happened in that particular one"
Q. You never sent an email to anyone requesting that the deal proceed so that it can make a specific date?
A. Andrew Hoffman " I might have because one of the sales reps might have been trying to get a bonus structures, so if I did sned an email, they were trying to hit whatever bonus it might have been. It was that date and time.
Q. Did you know this woman was being moved to Virginia for a period of three days in order to effect a deal in Virginia
A. Andrew Hoffman Allen made it clear that he was only there for that amount of time, yes.
Q. What happened with Mr. Cain?
A. He said that Dan Silverman offered him and Ipad at the time of the transaction but he's yet to receive it....Then he srted getting a little angry and says that you know, I know what you guys did and I have no problem contacting my attorney about it So I said well, what do you mean by this? And he said Dan Silverman tried to get the deal done in MIchigan but it didn't happen so he flew me and my family down to Florida for again about a three day stay, and he put them up in a hotel. I don't even think it was an apartment, I believe it was a hotel, and that's what they used to establish residency with. And Justin (Cain) said to this day he has never set foot back in Florida besides those three days to , quote unquote establish residency"
Source: Palm Beach County https://www.mypalmbeachclerk.com/cctrecordsearch.aspx Case 502015CA008456 Client First Settlement Funding LLC v
If you state you live in a place that you don't on a structured settlement transfer document it's fraud plain and simple. If you are asked to do so by any company seeking to buy your payments, please contact your state's attorney general and file a complaint and expose the company and individuals who asked you to participate in the act of fraud. Feel free to contact me and tell me your story. Be sure to get as much as possible in writing, take contemporaneous notes and pictures including any airline tickets, boarding passes, menus, receipts, license plates of any vehicles you are transported in across state lines.
I'll close with a parody of Steve Miller's "Take your Money and Run"
"This is a story of Mogavero and Johnny Sue
Periodic payments with nothing better to do
Sit around NY courts, be fried from gettin' denied
Head down to Virginia's better than a sharp stick in the eye
Here's what happened when they decided to take a drive
Speeding down that I-95
They headed to ooh, do it in Portsmouth
Only there for 3 ah whole days worth.
Just enough to "establish resi-dence"
Whole thing don't make no "effin" sense.
Hoo-Hoo, commit fraud, take the money and run
Commit fraud, take the money and run
Fake home, take the money and run
Forum Shop, take the money and run