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January 02, 2019

Is Genex Capital Chief Operating Officer Involved With Misleading Paymaster.Co Brandjacking Website?

by Structured Settlement Watchdog

Paymaster.co is a website that is one of the dime a dozen websites that are designed to generate leads for a factoring company using the names  (some of which are trademarked), contact and descriptive information for its competitors and primary market players to capitalize on their brands.

Paymaster.co Represents that the following companies buy structured settlements and puts them in the same boat with JG Wentworth

  • Arcadia Settlements Group Inc 
  • Capital Planning Inc.
  • Millennium Settlements Inc. (which no longer exists) 
  • Strategic Planners, inc. (Rick Bishop's company) 

Paymaster.co Represents that the following companies issue structured settlements although not a single one of them do

  • Ametros Financial
  • UBS Financial Services
  • Atlas Settlement Group, Inc.
  • Bradford Settlement Company
  • Brant Hickey & Associates, inc.
  • Chronovo
  • Creative Capital Inc.
  • Cornerstone Settlement Services, LLC
  • Delta Settlements
  • Forge Consulting LLC
  • Holcomb Smith & Associates Inc.
  • James E. Logan & Associates
  • JCR Settlements LLC
  • JMW Settlements LLC
  • The McNay Group
  • Mesirow Insurance Services, Inc/Alliant
  • NFP Structured Settlements
  • Oasis Financial
  • Pat Farber's Structured Settlement
  • The Pension Company, Inc.
  • Ringler Associates, Inc.
  • The Settlement Alliance, LLC 
  • Structured Financial Associates Inc. 
  • Summit Structured Settlements
  • 4structures.com LLC
  • Structures Inc.

in addition to Mutual of Omaha, Pacific Life and Prudential. These three companies issue structured settlement annuities, not structured settlements.

Owners Of Paymaster.Co Don't Care About Accuracy

Efforts to deal with Paymaster.co directly have gone on deaf ears. The puerile response to 3 calls today, before my number was blocked, was to forward the calls to JG Wentworth's call center. 

Predictable Shenanigans From North of the Border

What clues make the association of the Paymaster.co to Genex Capital's Boris Drubetsky?

  • as you can see from the screen shot below Boris Drubetsky's Vimeo includes 2 videos, one for Genex Capital's testimonials and the other for Paymaster.co
  • The misrepresentation of primary market companies follows what happened when Structuredsettlement-quotes(dot)com was re-launched in mid July 2012, after acquiring the asset from Andrew Cravenho. Then 4 primary market companies were misrepresented as structured settlement factoring companies.Roger Proctor and Boris Drubetsky deliberately tried to conceal their ownership of the brandjacking website, ultimately failing and then being forced to disclose after the settlement with Woodbridge Structured Funding in June 2015.
  • The last phone call was telling though. I said please patch me through to Boris Drubetsky and the receptionist, who could easily have said Boris Drubetsky didn't work there attempted to patch me through. Then the JG Wentworth hand over.

 

Boris Drubetsky Paymaster.co

It's a shame that those north of the border are unable to generate business without using the brands of others. Genex Capital also operates Assured Annuity and is one of the companies that chooses to market structured settlement derivatives as annuities. Given the recent NAIC statutory issue paper in which it is clear that the NAIC does not regard factored structured settlement payment streams as annuities or insurance product we'll see how long Boris and Roger rely on Merriam Webster for authority to support what in my opinion are misleadingly named offerings from a misleadingly named company.

Persistence Pays Off to Confirm That Genex Capital IS Associated With Paymaster.Co Just Doesn't Care About Accuracy

At 7pm EST I called and spoke to the same receptionist at Paymaster.co who said I would receive a call back in 2 minutes. When no call came I called back again ay 720pm EST on January 2, 2019. This time the call was answered "Genex Capital" by Takara.  BINGO!

Roger Proctor and Boris Drubetsky never cease to amuse me with 8 years of this nonsense.

 

 

 

Posted at 04:55 PM in Factoring Company Bad Business Practices, Genex Capital Commentary, Social Media "Road Kill", Structured Settlement Factoring News, Structured Settlement False Advertising, Structured Settlement Watchdog®, Vancouver Structured Settlements |

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