by Structured Settlement Watchdog
As the Structured Settlement Factoring World Burns
The structured settlement secondary market soap opera continues as Kobi Ribak, CEO of KR Taxi, LLC DBA Jacob Joseph & Associates was jailed on August 22, 2018 for aggravated assault with a deadly weapon.
Ribak, 49, of Delray Beach Florida, and formerly of BTG Advisors and Client First, was also charged for property damage and criminal mischief stemming from a road rage incident. In 2011, after only 4 months, Ribak was discharged from Topeka Capital Markets. The SEC disclosure on the IAPD website states that there were allegations that "Mr. Ribak was distributing trading ideas without footnoting his sources implying the ideas were his own".
Ribak is also facing a suit by DRB Capital LLC
Last year, DRB Capital filed suit against Jacob Joseph & Associates for tortious interference and violation of Florida's Deceptive and Unfair Trade Practice Act (FDUPTA). After conducting some discovery, in July DRB Capital asked to amend the complaint so that Mr. Ribak is held personally liable for his involvement in JJ&A's unlawful conduct. In the suit, DRB Capital is seeking compensatory damages and will seek treble damages, attorney's fees and court costs as permitted by FDUPTA, as well as punitive damages, as appropriate.
Hendon Mobster Does Better At The Poker Table
Despite the hanging chad on his rap sheet, Ribak is quite the gambler. Here's how he compares to the Owings Mills punks in structured settlement buyer Hendon Mob rogues gallery.
Kobi Ribak $174,279, 11,111th on all time money list
Ryan Blank $ 73,546 24,229th on all time money list
Richart Ruddie $ 2,200 236,902nd all time money list