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October 07, 2019

Milestone Swoops Into Maryland With Crowfly Structured Settlement Transferee Registration

by Structured Settlement Watchdog

Maryland is No Crow Bar

Milestone has gone where no primary structured settlement brokerage has gone before (at least overtly), by

Something to crow about
"Something to Crow About"

establishment of a structured settlement factoring company, Crowfly, LLC.  Not only that but John Bair,  a WestPoint grad who used to fly Apache helicopters and served in the Gulf War, has let the crow fly South into Maryland, where Crowfly, LLC. has been registered as a structured settlement transferee since July 11, 2019.

Maryland Structured Settlement Protections Strengthened Due to Access Funding Scam

Maryland has been a tough nut to crack since the Access Funding fraud that scammed many Baltimore City lead paint victims and was exposed by the Washington Post in August 2015. The scam included an attorney accused of sham independent professional advice and another attorrney who was caught taking bribes as  government official. The Access Funding Scam cascaded into the tertiary market, threatening the investment of retirees, in factored structured settlement payment streams, after lawsuits were filed making competing claims for the future payments. The factored structured settlement payment streams were scam labeled secondary market annuities by shameless merchants who have spent hundreds of thousands of dollars trying to protect dollars that they market to investors as safe.

Maryland law requires that anyone filing a petition for a transfer of structured settlement payment rights in Maryland must be registered with the Office of the Attorney General as a structured settlement transferee. See Md. Code Ann., Cts. & Jud. Proc. § 5-1107. See Application to Register as a Structured Settlement Transferee in the State of Maryland.  There is an initial registration fee of $2,000 and the company must post a $100,000 bond. 

Where to Obtain Information About Structured Settlement Transferees Registered in Maryland

The Office of the Attorney General will treat Social Security Numbers provided in this application and its accompanying forms, as well as answers to Question #6(d) and Question #6(e)  [ average discount rates charged in for deals under and over $100,000 for each of the preceding 5 years], as not subject to public inspection under the Maryland Public Information Act (“MPIA”). See Md. Code Ann., Gen. Provs. §§ 4-334, 4-335. The Office of the Attorney General may, however, publish de-identified information derived from answers to Question #6(d) and Question #6(e). The Office of the Attorney General may deny public inspection of other information provided by the applicant in an application and its accompanying forms in accordance with the MPIA.

Where You Can't Go to Get an Annuity Sold in Maryland

Following reforms that came into being following Access Funding, the number of structured settlement transferee registrations was slow at first, but now there are eight companies registered and authorized to operate and/or solicit in Maryland. One of those won't be AnnutySold, a company associated with Owings MIlls punks Richart Ruddie and Ryan Blank, whose various associated companies were fined and banned from doing business in Maryland for 7 years due to fraud, following a Maryland Attorney General investigation.

#Marylandstructuredsettlementcashnow, #MDstructuredsettlementcashnow

 

 

Posted at 12:20 PM in Access Funding Scam, Baltimore Structured Settlements, Bethesda Structured Settlements, Chevy Chase Structured Settlements, Maryland Structured Settlements, Owings Mills Structured Settlements, Secondary Market For Structured Settlement Payment Rights, Structured Settlement Factoring News, Structured Settlement Watchdog® |

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Guide to Structured Settlements 2024

  • What is a Structured Settlement? What You Need to Know
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  • Rated Ages and Structured Settlement Cost
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    Which life insurance companies issue structured settlement annuities in 2024? A list of current structured annuity issuers, the location of their home offices and their financial ratings from A.M. Best, Moodys, Fitch, Standard & Poors and/or other Tier1 NAIC ratings, with links to their websites and other useful information. Last updated June 14, 2024
  • Treasury Funded Structured Settlements
    Treasury Funded Structured Settlements are a settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of, structured settlement annuities. Treasury Funded Structured Settlements can also be used to fund installment sales, also known as structured sales and other non qualified structured settlements.
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    Use the Taxable Equivalent Yield chart to help compare the Internal Rate of Return (IRR) of a structured settlement to other alternative or complementary investments. Need help with the chart? Call 4structures.com® LLC at 888-325-8640
  • Structured Settlement Payments | Types of Structured Settlements 2024
    Ways You Can Structure Your Settlement Payments in 2024. With a structured settlement you can have more than one type of payment in a single contract. Different types of structured settlement payments can be customized and combined to meet your needs on a stand-alone basis, or in conjunction with other financial products. Diversify your structured settlement, if you wish, by funding with more than one annuity issuer, with treasury funded structured settlements, index linked structured settlement payments and market based structured .
  • Structured Attorney Fees for Tax Deferral for Attorney Contingency Fees
    Structured attorney fees is a financial strategy that offers a unique way to defer taxes for lawyers and law firms. Lawyers CAN structure their legal fees even if the plaintiff doesn't structure their settlement. There are multiple ways to structure your attorney fees, such as capped or uncapped index linked structured settlement annuities where payments are adjusted based on upside changes in the S&P 500 or another index, Trial Lawyers may also use a special deferred pay/deferred compensation arrangement, if market based returns returns are desired with no cap. Plan NOW for year end! Put structured attorney fee expert John Darer® on your settlement planning team in 2024.
  • Structured Settlement Annuity Company Customer Service Phone Numbers
    Receiving structured settlement payments from your own structured settlement or inherited structured settlement? You'll like this huge time saver. Click the title for a link to a comprehensive list of customer service telephone numbers that includes both current AND former structured settlement annuity issuers and reinsurers. If you have simple bank or beneficiary changes, or if the insurance company that issued the structured annuity has merged, sold or spun off its block of structured annuity business (e.g. Aviva, Allstate, Transamerica, AEGON, GE Capital, Liberty, CNA, Confederation Life), oran annuity issuer has changed its name and you're trying to track them down. Here you go! The list is regularly updated. Last updated May 20, 2024.
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  • What Are Structured Settlement Annuities?
    Structured settlement annuities are annuities that can provide one or more customized annuity payment streams in a single contract. Read about structured settlement annuities here.
  • History of Structured Settlements
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  • What Are Market Based Structured Settlements?
    Market based structured settlements are an alternative or supplementary structured settlement solution for the plaintiff, attorney or law firm that: 1. Can afford to take some market risk 2. Have discretionary settlement dollars. Claimants and attorneys alike may find that market-based structured settlements provide the opportunity to receive tax-free income, or tax-deferred income, while enjoying growth potential.
  • iStructure |Uncapped Fixed Index Structured Settlement Annuity
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  • Structured Settlements and Longevity Risk| What Are the Odds?
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Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
    Qualified Settlement Funds | What You Need to Know
  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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Why Take a Structured Settlement?

  • A structured settlement offers guaranteed financial security to personal injury victims, wrongful death survivors and their families. A structured settlement involves a customized stream of payments, provides long-term stable tax-free income, for a period of years or a lifetime. Unlike other income annuities. a structured settlement annuity can have multiple payment streams to address multiple needs in a single contract.

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