by Structured Settlement Watchdog®
A New York Daily News article about the Scott Rothstein "structured settlement" Ponzi scheme demonstrates the continued laziness of reporters who fail to seek out qualified information sources about structured settlements, or even basic legal information. It's a disgrace.
The New York Daily News published the following in an article dated November 12, 2009 and attributed it to the Reuters news organization:
"The settlement ventures allegedly offered to investors by Rothstein involved lucrative whistle-blower and employment discrimination cases. The investors would make up-front cash payments to individuals owed money by the courts to buy the right to collect the full amount of the settlements later". (underline for emphasis)
- Minimal research by Reuters and the New York Daily News would show that the Courts would not owe money to individuals as the result of a successful lawsuit.
- In a law suit there are plaintiffs and defendants. In the case of Qui Tam (whistleblower cases) the plaintiffs are referred to by the Civil War era label of "Relators". The Defendant may or may not be insured.
- Whether a legal case is resolved by way of (1) negotiated settlement (2) arbitration or (3) bench or jury verdict/judgment the terms of the settlement, arbitration or judgment will set forth who must pay, how much they must pay, and to whom. Generally the Defendant will pay, or. if insured, the insurer on behalf of the Defendant.
This author, John Darer offers his services as a qualified resource to any investigative reporter, or any news organization with an interest to accurately report about structured settlement, settlement planning, structured settlement factoring, structured settlement factoring company business practices or legal settlements. In addition to the personal knowledge of this author, John Darer can provide introductions to other legitimate sources of information. on these topics and other related topics to help reporters get to the information they need to write accurate news pieces.
John Darer has written over 2,150 blog posts on the subject matter described, has over 26 years of financial services experience including over 20 in the stuctured settlements. He is also a featured structured settlement expert commentator on The Legal Broadcast Network. Click for John Darer's full bio.
Members of the media may also wish to refer to: