by Structured Settlement Watchdog®
Income Stream Exchange founder Todd Dyer a/k/a Allen Todd and lately, T. Allen Dyer, is the subject of a scathing Milwaukee Journal Sentinel crime section report that lists Dyer's criminal record going back to 1993. In June 2015 a grand jury indicted T Allen Dyer on 31 counts, including 21 counts of wire fraud, five counts of money laundering, and five counts of transporting funds obtained from fraud across state lines. [ see FBI notice re Todd Dyer]
Income Stream Exchange, a/k/a Income Stream XC, which appeared on the scene in early 2015, purports to act as an online marketplace between buyers and sellers of structured settlement payment rights.
The unregulated structured settlement secondary market is an indisputable regulatory pock mark on the financial services industry. There is no licensing and no background checks.
While other financial industry segments like insurance (including the placement of structured settlement annuities), real estate, accounting, securities and financial advisory and tattoo parlors, require licensing and have regulatory oversight, there is no regulation concerning who can legally advise annuitants concerning the disposition of structured settlement payment rights, who can legally advise investors about the purchase of structured settlement payment rights, what is acceptable business conduct and what is prohibited. Should consumers be the unwitting targets of the "Sultans of Sting"?
As of time of publication the Income Stream Exchange website is still posting an embedded video produced by or on behalf of the National Structured Settlements Trade Association in the late 1990s, concerning the Kyle Greene story. The video has clearly been copied and then uploaded to the Income Stream Exchange YouTube channel.
I wrote about Dyer's Income Stream Exchange in January 2015 here. I criticized Income Stream XC for falsely insinuation that various testimonials that appeared on the NSSTA website were about the structured settlement payment rights that Income Stream XC has been peddling to investors. Following its publication I was contacted by T. Allen Dyer and following our conversation he was very cooperative about cleaning up his website of the errors that I cited. But the video remains.
Read Judge Bars indicted Lake Geneva Man from taking client cash July 16, 2015. The article cites Assistant US Attorney Joseph Wall who stated "Overall, Dyer has made a career out of defrauding people out of their savings, and he has been undeterred by his prior federal and state convictions" in a memorandum asking the court to impose a $500,000 bail. Kinda makes you feel warm and fuzzy about investing money doesn't it? NOT
T. Allen Dyer is not believed to be related to Randy Dyer, the NSSTA board member and a former Executive Director of NSSTA.
Read more about the 2000 Appeal of T. Allen Dyer's 1991-1996 Ponzi Scheme case 215 F 3rd 568
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