by Structured Settlement Watchdog®
In January 2000, while at Peachtree Settlement Funding, DRB Capital Chief Jim Terlizzi characterized settlement purchasers as the "police" in a Business Insurance article entitled "Exposing Structured Settlement Scams". The only thing I see in common between "The Fuzz" and Chief of DRB is the ZZ in his name.
Terlizzi incredibly characterized structured settlements , which are funded with regulated insurance products, issued by licensed insurance companies and placed by licensed agents or brokers, as a three card Monte game at a time that his "police" weren't required to carry a badge. His Peachtree charged some of the highest discount rates around. Here is my podcast "Structured Settlement Scam Hoax", my response to "ZZ" top Terlizzi's "Tube Snake Boogie" and other scam-mongers in the structured settlement secondary market.
None of Terlizzi's Three Card Monte players have been the subject of a Washington Post cover story. 15 years on members of the settlement purchasers' "police" squad are reeling from contemporary allegations of bad business conduct that I have cataloged here and have been reported elsewhere. The subject of the sub-industry's bad business conduct has been a hot topic at recent meetings of the National Association of Settlement Purchasers, an admission. Prior to Terlizzi's arrival at DRB Capital, DRB Capital misrepresented a stock photo as one of its customers.
You may also be interested in this
A contemporaneous response to Jim Terlizzi's outrageous 2000 piece, by the late esteemed Chicago trial lawyer Philip Corboy, referred to Terlizzi's industry as "a new breed of aggressive hucksters", a term later echoed by Texas trial lawyer Joseph Jamail in 2008. Netti C. Vogel, a judge in Rhode Island later referred to them as vultures, a flesh ripping scavenger moniker that has stuck, to the chagrin of players in the industry that try to do things right.