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September 23, 2020

Judge Slams Joe Gargan with 70 Month Prison Sentence for Embezzlement Scheme

by Structured Settlement Watchdog

Disgraced former structured settlement broker Joe Gargan's Covid-19 Hail Mary pass of excuses in relation to his criminal acts,  has resulted in a figurative sack of potatoes. Pretty soon he may be peeling them. Gargan is going to prison and must report by January 4, 2021. Even the Kennedy legacy couldn't save him. 

Sentence Imposed:
70 months with 3 year supervised release term

Monetary penalties:
$100.00 Assessment on each of Counts 1 & 2 = $200; $ 0 Fine
$9,117,165.00 Restitution Ordered pursuant to the Restitution Order entered and filed in
open court.

Consent Order of Forfeiture entered and filed in open court. Download Consent Order of Forfeiture Gargan

Conditions of Supervised Release:
1) If restitution is not paid in full by the time the defendant is released from custody, any
remaining balance shall be paid in equal monthly payments of $500, to commence within 60
days of release, until paid in full.
2) The defendant shall apply all monies received from income tax refunds, lottery winnings,
inheritances, judgments, and any anticipated or unexpected financial gains, to the outstanding
court-ordered financial obligation, or in a lesser amount to be determined by the court, upon the
recommendation of the probation officer.
3) The defendant shall not incur new credit charges or open additional lines of credit without the
approval of the probation officer.
4) The defendant shall provide the probation officer access to any requested financial
information.
5) The defendant shall participate in a program approved by the United States Probation Office
for mental health treatment. The cost of this program is to be paid by the defendant as directed
by the probation officer.

Download Criminal Judgment Against Joe Gargan 9-23-2020

Read About Rossie D. Alston, the judge who sentenced Gargan

 

 

 

Posted at 05:14 PM in Gargan Embezzlement, Structured Settlement Industry News, Structured Settlement Watchdog®, US Department of Justice |

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Guide to Structured Settlements 2023

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    How structured settlements work, including 4structures.com LLC's super helpful structured settlement flow chart/diagram showing how structured settlements fit in on the spectrum of settlement planning solutions.
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  • 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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  • Structured Settlement Payments | Types of Structured Settlements
    Ways You Can Structure Your Settlement Payments. 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 .
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    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 the an index linked structured settlement where payments are adjusted based on upside changes in the S&P 500 with no downside and a cap of 5%. 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.
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  • Structured Settlement Quote Lock-Ins | What You Need To Know
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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
    Tracing the roots of structured settlements history from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as a core personal injury settlement planning tool to the present day.
  • What Are Market Based Structured Settlements?
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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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