by Structured Settlement Watchdog®
Interesting article about resume faking on CNBC.com on the heels of Mt Airy Maryland settlement purchasing executive David Springer's admissions and the Einstein Structured Settlements "Yale credential" fakery.
The CNBC article, by Allison Lynn Senior Business and Economics reporter, published February 7, 2014 says that "resume fakers are...worth catching, because the researchers found that those who are comfortable exaggerating their skills also are more comfortable being immoral in other ways.
A Purdue law professor, cited in Allison Lynn's article has a jaundiced view of resume fakers:
"If you hire somebody who's misrepresented their resume, not only might you get somebody who has lesser qualifications but you might get somebody who's likely to steal from the organization or commit other types of fraud," said Brian Dineen, an associate professor management at Purdue University who also co-wrote the paper on fraud. Citing Sherry Dixon, Senior Vice President of staffing at Adecco, a staffing and employment agency, Allison Lynn suggests and I agree that technology has made it easier to check credentials but it also has made it easier to fake them. People can create websites for fictitious companies and buy credentials from Internet-based "diploma mills."
Dixon said that "Often candidates have been telling the lie for so long that it can be tough to catch until the company starts verifying education, checking references and running a background check".
David Springer , admitted in a deposition to fabricating a number of different online profiles that were intended to portray "like, a real like person, you know...who went to school**" , that were used in public facing social media to promote the business of his company Sovereign Funding Group. He also fabricated his 'resume" on LinkedIn and created fake 'resumes" on Linkedin for his phony employees, some of whom endorsed each other on Linkedin and communicated through other social media. Springer admitted fabricated the Sovereign Funding Group's Better Business Bureau page .
Things began to unravel for David Springer after the structured settlement watchdog attempted to verify the academic credentials of the names that David Springer later admitted he created, and was unable to do so. Other inconsistencies were noted. For example here , here, and here Subsequently we discovered the photos that were held out to be the CEO of Sovereign Funding Group on Linkedin, Google Plus and elsewhere were stock photos.
This is a long ongoing discussion topic that has had some variations over the years.
On December 12, 2007 I reported that the Society of Financial Service Professionals was studying ways to clamp down on the use of bogus professional designations or midleading use of legitimate professional designations shortly after calling out a now retired managing general agent for promoting what appeared to be a fake professional designation.
This is a topic that I believe is important to every industry, not just the structured settlement industry.secondary marketplace. Not everyone can afford a background check. but can they afford not to when it comes to financial advice?
** David Springer deposition p127 line 19 and p128 lines 2-3 and line 11-13, See p 129 regarding the Linkedin fabrications, Source: Woodbridge Structured Funding v Sovereign Funding Group and David Springer US District Court MD 1:11-cv-03421-MJG Document 85, Exhibit G.
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