by Structured Settlement Watchdog
David Springer, of Mt Airy MD, formerly CEO of settlement purchasing broker Sovereign Funding Group, achieved notoriety for what a Maryland Judge called "using questionable business methods". Bearing that in mind, thanks to a tip off, one sees massive inconsistencies between David Springer's current LinkedIn profile and his legal testimony and positions taken as a defendant in multiple law suits.
In the Mt. Airy MD resident's answer to a legal complaint filed by Woodbridge Structured Funding in June 2012, David Springer claimed that Sovereign Funding had ceased operations.
Here's what David Springer's LinkedIn profile says today
CEO Sovereign Funding Group
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HIGHLIGHTS►
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✔ Over a 7 year period purchased in excess of 500 client's structured settlements and annuity contracts valued at over $62 million dollars.
✔ As a Better Business Bureau Accredited Company Maintained a Perfect A+ Record with 0 Customer Complaints. [ Read this ]
✔ In early 2013 SFG was contacted by a group interested in buying the company. SFG was sold in mid-2013 and it's assets were merged into the buyers existing operations.
SUMMARY►
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✔ Managed the operations of a structured settlement factoring company. Provided overall leadership, guidance, and direction to all staff members with the ultimate goal of providing our clients with a level of service that consistently exceeded their expectations.
PRIMARY RESPONSIBILITIES►
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✔ Developed and executed a core market strategy to increase retail volume and market share.
✔ Provides strategic direction, business plans, and oversight to ensure the company is maximizing retail production, while maintaining efficient and accurate operations.
✔ Create and maintain a positive employee morale.
✔ Kept up-to-date on industry and competitor developments. Anticipated if market developments required the company to modify its products, policies, procedures or underwriting requirements.
✔ Acted as a liaison between the client and sales or administrative staff whenever necessary.
- Falsely claiming that Sovereign was a corporation.
- Misrepresenting (in various contexts, including sites such as Facebook and
LinkedIn and to the Better Business Bureau) Sovereign as a corporation, and misrepresenting as real persons who were officers of Sovereign, fictitious persons created by Springer.
- Falsely claiming that Sovereign itself was a purchaser of structured settlements rather than merely a broker.
- Utilizing the website with the address www.webuypayments.net and other websites anonymously connected to it to redirect Internet inquiries intended for competitors to the Sovereign website. [ in the footnote the court acknowledged that David Springer denied that he owned or controlled the websites utilized in Internet redirects to webuypayments.net. The registrations of these domains are “private” and anonymous. However, based upon its evaluation of Springer’s testimony and the fact that the beneficiary of the redirects was Springer, the Court finds that Springer owned, or at least controlled, these websites]
2. From David SPRINGER v. ERIE INSURANCE EXCHANGE. Maryland Court of Appeals No. 79, Sept. Term, 2013. Decided: June 24, 2014
In October 2011, David Springer was sued by JG Wentworth, the leading purchaser of structured settlement payment rights over various sucks websites that Springer allegedly were produced by or on behalf of Springer. Springer then filed a claim for insurance coverage under his homeowner's policy and was denied so he sued his insurer, Erie Insurance Exchange and lost. Springer then appealed and argued he was not in business when the alleged defamation occurred
"Before this Court, Mr. Springer argues that the “business pursuit” exclusion of his policy does not apply because, he asserts, he was not “actively managing or operating, or participating in the management or operation of a business” at the time of the events alleged in the J.G. Wentworth litigation. Mr. Springer points to the “contradictory and ambiguous” allegations in the J.G. Wentworth complaint, which stated Sovereign Funding Group had forfeited its corporate status as of 2009 and that Mr. Springer's wife, not Mr. Springer himself, had served as its CEO [ conflicted his testimony in the Woodbridge case and David Springer's 2016 Linkedin profile]. Mr. Springer also emphasizes that he provided extrinsic evidence to Erie, in the form of a letter from his attorney, demonstrating that he was no longer affiliated with the Sovereign Funding Group and that he was only acting in his personal capacity during the time period subject to J.G. Wentworth's complaint.
Moreover, Mr. Springer urges this Court to require Erie to consider more than the face of the complaint before denying his claim, stating two factors explored by various tribunals when determining whether a business pursuits exclusion applies: continuity and profit motive. Mr. Springer, relying on such cases, argues that the business pursuits exclusion is inapplicable without a finding that an individual has continuously engaged in a certain field of business without a significant break. In the present case, Mr. Springer asserts:
Here, there is no continuity in the business pursuits Springer was alleged to have engaged in. No evidence demonstrated that Springer was acting within his “customary engagement” or “stated occupation” when he engaged in the alleged defamation. Rather, the evidence demonstrated only that Springer was previously in the business of structured settlements in connection with [Sovereign Funding Group], but that he had discontinued his involvement in that business". { David Springer's 2016 LinkedIn profile suggests there was in fact no break and that he was CEO for that entire time period. Indeed promotional videos using paid fake testimonials appeared on behalf of Sovereign Funding Group in late 2012. See fake testimonial here under the name Jessica P. Here's the proof of the actress named Samantha, http://www.buytestimonialservices.com/product/samantha-video-testimonials/. "Samantha's fee is $25 to say she's a customer of yours. LOL ]
3. David Springer admitted in legal testimony to being solo proprietorship in which he was the sole employee.
4. David Springer admitted in legal testimony that he created numerous fake profiles in social media, such as Facebook, Google Plus, Linkedin, which were held out as Sovereign Funding Group employees. In previous blog posts I demonstrated how David Springer endorsed the fake profiles and acting as the fake profiles he endorsed himself. [ see Sovereign Funding Group CEO Deposition transcript and commentary]
5. David Springer admitted in legal testimony that he was solely in control of the Sovereign Funding Group submissions to the BBB of Greater Maryland.
6. David Springer admitted in legal testimony to having placed the names James Goldstein and Sandy Jackson on his company's BBB listing (that he knew would be facing American consumers).
7. David Springer admitted in legal testimony to being an imposter for his wife, related to Sovereign Funding Group business in 2004, a date that precedes the timeframe in his 2016 LinkedIn profile.
8. in 2011, a Sovereign Funding Group promotional video falsely held out David Springer as a lawyer when he had no law degree and was not admitted to the bar. The still live video was submitted as evidence at trial in the Woodbridge law suit against David Springer. Springer also falsely held out that fake profile "James Goldstein" had a law degree from Yale.
9.David Springer also leaves a 6 year gap in his LinkedIn resume, a time period related to his being characterized as the right hand man to Laurent Barnabe. Barnabe was prosecuted and convicted in the First International Bank of Grenada fraud in which Americans lost their life savings. In 2012 Springer proudly listed Grenada as one of his former ports of call, why not now?
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