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May 16, 2012

Roger Proctor/Genex Capital Acquires Settlement Quotes Online Factoring Bid Platform

by Structured Settlement Watchdog

Genex Capital, or an entity associated with Roger Proctor, acquired Settlement Quotes on line factoring auction web platform (located at "structuredsettlement-quotes(dot)com  within the last year, although one of our sources purports that its bidding process is the case of " all is not what it seems" because the process does not include a wide pool of funding sources. I am in favor of an open bidding process when structured settlement factoring is necessary. Relationships between bidding companies must be disclosed. If not, how can a consumer be expected to trust the process. It doesn't matter if the "actors" are JG Wentworth referring one of its customers to Peachtree for comparison shopping (as has been alleged by the Structured Settlement Institute) or other pairs or groups, it has to be open.

Postscript

The month after this post was published and we identified Roger Proctor and Boris Drubetsky's connection to SSQ (through information then disclosed on a Better Business Bureau profile in a later post), the Better Business Bureau profile changed.

The now monikered "SSQ" online platform is listed in multiple sources as hosted by Boris Drubetsky, the Chief Operating Officer of Vancouver, Canada  based Genex Capital and Genex Strategies, both Roger Proctor led entities. On September 4, 2012, for reasons unknown,  Boris Drubetsky denied any Genex connection to SSQ in an email to this author.

In July 2012, as an apparent and (in early  2013) continuing search engine optimization strategy, SSQ populated its website with the names and brands of virtually every insurer,  and structured settlement buyer, including the mislabeling of 4 structured settlement brokers as factoring companies for a purported review site that SSQ and its owners controlled. The same website that solicits customers to do business with SSQ (and therefore its owners).

In January 2013, this author identified how SSQ had created complaint pages for JG Wentworth, Peachtree and Woodbridge Structured Settlements which were then promoted using Black Hat SEO.

Read SSQ Settlement Quotes SEO Madness 843 Steps Beyond  January 15, 2013.

Frankly, I'm puzzled by all the mystery. From what I am able to deduce from publicly available information, the SSQ platform is apparently hosted in Canada, lists a Hartford CT address on its website and no other, SSQ has not been registered with the Connecticut Secretary of State and is soliciting American citizens holding structured settlements. The SSQ Connecticut Better Business Bureau listing "inspires"  consumers with  "no license required".

 

 

Posted at 08:44 AM in Genex Capital Commentary, Structured Settlement Watchdog®, Structured Settlements in Maryland, Vancouver Structured Settlements |

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