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May 21, 2012

Genex Capital CEO "in Serious Car Accident" But The Math Doesn't Work

by Structured Settlement Watchdog
 
Time for a little good natured ribbing for Genex Capital. If a February 24, 2012 posting is to be believed, its CEO Roger Proctor deserves a lot of sympathy as he recovers from "devastating injuries".
 
At the time of this posting, the subject post,which appears at structured-settlement-quotes1.blogspot.com is listed as posted by Roger Proctor, tells the tale of how his car was hit by by a truck last year. The post continues to suggest that due to said accident, he was left with "severe damage to his left leg which required 22 surgeries and 3 years of physiotherapy" (all presumably packed into the 1 year prior to February 24, 2012!).  The court purportedly awarded him a 5 year structured settlement, according to the post. But "he wanted immediate money for his health". So the blog says he  "decided to give his structured settlement quotes to Genex Capital" (the company for which he is the CEO)
 
Comments
I've got nothing personal against the CEO of Genex, but please...
  1. What a far fetched story!  The subject post appears to be a made for SEO testimonial.
  2. Do the math, it doesn't work! 
  3. Courts don't award structured settlements
  4. Courts approve certain types of settlements and award structured judgments.
  5. Courts might need to approve a settlement in the event it involves a minor or incompetent, or if the damages are being awarded for wrongful death
  6. A very short term structured settlement makes little sense.
  7. Factoring a short term structured settlement means a loss of capital. Why not just negotiate for cash in the first place?
  8. All links on the site appear to point to Genex Capital and Genex Capital's current logo and tag line are used. The videos which appear on that blog all appear to be marketing videos for Genex.
  9. It doesn't take much to do the math BEFORE publishing folks.

Feel better Rog.

Postscript

After this BS was exposed, the subject post about "Roger Proctor" was removed.

Posted at 10:32 PM in Genex Capital Commentary, Genex Capital Social Media Gaffes, Social Media "Road Kill", Structured Settlement Watchdog®, The "Shriek" of the Week, Truth In Advertising Structured Settlement Factoring |

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