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Genex Capital Corporation LinkedIn

by  Structured Settlement Watchdog

It was amusing to receive notification from Linkedin that my "old friend" Roger Proctor, the CEO of Genex Capital joined Linkedin.  Roger's profile says he's from the Vancouver area which is true.  The Genex Capital sole office address is held out on LinkedIn as 73 Green Tree Drive, #99 Dover, DE 19904. As I previously researched and written here, that address is simply a UPS store mailbox in Dover DE.  Roger Proctor himself could not physically fit in that mailbox, nor could Boris Drubetsky or the rest of the Genex Capital team. What puzzles me is why the only office location listed on the Genex Capital Linked in profile is the Dover Delaware UPS store mailbox that could never be described as an office unless you were a resident of Leisure World in the movie "Downsizing".

 

Why not list where everyone actually works? That is to say, why not 1011 West Cordova Street Suite 3502 Vancouver, BC, an address common to Proctor's medical marijuana business Abaca Rx and Genex Strategies, Inc., the registrant of GenexCapital.com?

Genex Capital has been the source of a chuckle or two over the years. One of my favorite Genex Capital chuckles was this November 2013 post Member of Genex Capital Family Announces Partnership With Itself (in a press release)

For some reason Genex wanted to conceal its ownership of the SSQ purported structured settlement factoring auction website. I already had learned plenty from a source that SSQ's office address in Hartford was merely a mail drop for mail to be forwarded to the above Vancouver address. That Boris Drubetsky's credit card was used to pay for it. Proctor and Drubetsky knew I had a screen shot provided to me by an individual from Missouri who they later hired as a consultant and who worked on the SSQ site. The concealment effort was later abandoned as part of the resolution of lawsuit brought against it by Woodbridge Structured Funding.

5 Ways Genex Capital's SSQ Goes Askew in Guide For Prospective Sellers of Structured Settlements

by Structured Settlement Watchdog

1.  Genex Capital/SSQ Misinforms that when you sell your structured settlement you are selling the annuity

Genex/SSQ says "If you decide to sell part or even all of your future payment stream in exchange for a lump sum paid to you today, the annuity is the product that you are actually putting on the market for others to purchase". The truth is that it is the structured settlement payment rights that are put up for sale. The annuity is a qualified funding asset owned by the qualified assignment company. It remains owned by the qualified assignment company even after the structured settlement payment rights are transferred from the original payee.

2. Genex Capital/SSQ confuses the US government with the law and then gets the fundamental law wrong

Genex SSQ says "Simply put, the United States government believes that restitution for an injury, illness, accident or wrongful death is not defined as a gain for your income".  The truth is that damages on account of physical injury, physical sickness or wrongful death are excluded from gross income, pursuant to IRC 104(a)(2) of the Internal Revenue Code of 1986, as amended. 

3.Genex /SSQ Contradicts Itself and Supports my Point #1

Genex /SSQ states Federal law states that consumers cannot “change, modify, or control” the schedule of payments, lest they be subject to taxes including on capital gains. Selling your payments, in whole or in part, does not technically alter the original contract you signed: it simply transfers ownership of the rights to those payments (on the same schedule) to a different party". 

4. Genex Capital/SSQ is Afflicted With The Structured Settlement Secondary Market Brain Fart

Genex/SSQ says  "In the case of a third party claim, the victim may be awarded a settlement as part of the restitution for their case".   Genex/SSQ also says "There are plenty of reasons to want to sell a structured settlement payment stream once such a payment has been awarded to you"

The fundamental truth that escapes Genex Capital/SSQ,  is that a settlement is not an award and an award is not a settlement.

 

5. Genex Capital/SSQ Shoots Self in The Foot, A Sashay Gone Wrong

Genex Capital/SSQ says "Just like any other company, a structured settlement firm will have a corporate history that you
can find online with a little bit of digging. Check to see if the company’s address points to a real location (not a Post Office box)"

Here's the result of a little digging since 2011

• The address for SSQ in Hartford CT is a mail drop at a Regus office Center.   Hmmm.
• The address for Genex Capital and Assured Annuity in Delaware is a mailbox at a UPS store located at 73 Greentree Drive.  Hmmm
• The management of Genex Capital took considerable steps to conceal their ownership of SSQ after it was acquired by Andrew Cravenho in November 2011.  Hmmm
• My July 2014 post included some interesting historical "archaeological" finds  SSQ | Who is "Brad Jones"? Questions About SSQ/Genex Link Continue
• Genex Capital only started labeling SSQ as one of its properties since May 2015 at the conclusion of a lawsuit against it brought by one of its former competitors.
• Genex Capital/SSQ promotes David Springer, using the Mt Airy Faker's admitted alias James Spelling, and was the first to promote another fake identity used by David Springer in July 2012 only days after Springer started using it. Read Genex Capital/SSQ Compared Its Fake Person With Real Attorney From Competitor

 

Genex Capital, Who's Your Mommy? | Irish Women Raise the Bar-e on Genex Capital in Blarney Strip and Dip

by Structured Settlement Watchdog

The jig is up, way up! The CEO of Vancouver's Genex Capital, Medical Marijuana Entrepreneur and "skinny dip mentor" at the Wreck Beach Preservation Society's skinny dip party and nude art show every July, was laid to waste by 2,000 Irish women who more than doubled the previous Guinness Record for the largest skinny dip, set in 2015 in Perth, to raise money for cancer research. Genex Capital donates $5 for each pair of cheeks at the ah, bottom of Wreck Beach trail 6 each year.

Surely residents of Vancouver and lovers of "structured a-nude-ity" can come out and make Roger Proctor, among whose company brands is Ass-ured Annuity (albeit to market structured settlement derivatives mislabeled annuities) to spend more of his dough.

Make Genex Capital CEO Roger Proctor Pay. The More That Go "Au Naturel", The More He Pays

 

The Genex Capital Corporation "Tumbleweed Connection" | An SSQ Website Review

by Structured Settlement Watchdog

Why Doesn't Genex Capital Give a Crap About Accuracy?

The Structured Settlement-Quotes brand-jacking website, owned by Genex Capital Corporation, claims to be America's #1 Structured Settlement & Annuity Marketplace.  Yet the Genex Capital owned website is quite useless to consumers in that much of the data about insurance company ratings is at least 7 years old,  in some instances 8+ years old. Almost a year has passed since we first wrote about this.  See May 2017 Genex Capital's StructuredSettlement-Quotes (Dot) Com Outdated Inaccurate Insurer Ratings.  

The Genex Capital owned website is unreliable for people looking for information about insurance companies due to being so outdated. 

Tumbleweeds of neglect   

This sums up the utility of the Genex Capital website SSQ (structuredsettlement-quotes) when comes to insurance companies' information.

via GIPHY

Genex Capital was called out in November2013, when Genex Capital CEO Roger Proctor was cited in a press release announcing Assured Annuity  ( i.e. Genex Capital), partnering with SSQ ( i.e. Genex Capital). Priceless.

 

 

Genex Capital | Make Genex Capital Pay Cash Now for "Structured Fundaments"

by Structured Settlement Watchdog®

Genex Capital CEO Roger Proctor has an uncanny skill. Accurately counting the number of bums on the beach for charity, in this case the Wreck Beach Preservation Society. He literally has years of experience protecting Genex Capital's "bottom line"at the annual event. So get your empennage to Vancouver at the "bottom" of Trail 6 this Saturday July 15th for a good cause. For each "structured fundament" Genex Capital will fork over $5 cash now for charity.  

 

Vancouver Weather Forecast

 

Genex Capital False Advertising Concerning BBB Rating June 2017

by Structured Settlement Watchdog®

Genex Capital advertises that the "Assured Annuity™ is a contract providing for the payment of a sum of money payable either monthly, yearly, in one lump sum at a future fixed date, or a combination thereof. These payment rights were originally paid by insurance companies to personal injury victims pursuant to a structured settlement".

Despite the fact that Genex Capital admits that what it markets to investors on the Assured Annuity website is structured settlement payment rights, defined at IRC 5891(c)(2), Genex Capital states:

"Genex Capital has been in the business of buying structured settlement annuities on the secondary market since 2003"

Genex Capital makes this false statement having made an admission that it buys structured settlement payment rights. In a structured settlement factoring transaction the actual annuity contract is not transferred and remains owned by a qualified assignment company. Genex Capital is challenged to provide proof that it has actually acquired any annuity contracts (as opposed to structured settlement payment rights).

Another misrepresentation by Genex Capital

"Since registration with the Better Business Bureau in 2008, we (Genex Capital) have always maintained the highest A+ rating with zero complaints. 

FACT:  As you can clearly see, at the time of publication Genex Capital IS NOT rated or accredited by the Better Business Bureau. 

 

Despite Genex Capital 's claim that it has been continuously been rated A+ on its Assured Annuity website (that appears intended to curry favor with consumers), Genex Capital is currently not rated or accredited by the BBB

 Genex Capital says :  Paying for a child’s education with a fixed annuity is a great way to make it easier to pay the costs of college

BUT What Genex Capital is selling  "structured settlement payment rights" which are not an annuity.  Genex Capital admits elsewhere "Assured Annuities provides access to the secondary payment rights market   What we do – We buy structured settlement payment rights and other annuity payments and resell them to private and institutional buyers".

Why is Genex Capital soliciting United States consumers with the annuity misrepresentation. The companies meta tags claims to be "your source for annuities" The home page suggests that  Genex Capital relies on the Merriam Webster  definition of annuity

The definition of annuity offered by the CT Insurance Department, a state in which Genex Capital and members of its group have done business**,  says " an An Annuity is a contract in which an insurance company makes a series of income payments at regular intervals in return for a premium or premiums you have paid. Annuities are most often bought for future retirement income, and can pay an income that can be guaranteed to last as long as you live"

With transfers of structured settlement payment payment rights, there are no premiums paid since premium was paid by qualified assignment company, the applicant and annuity owner when the annuity was established. The qualified assignment company received consideration from the Defendant or its Insurer, to take on a future periodic payment obligation established in the Settlement Agreement and Release  when the structured settlement was established. As I stated above, the qualified assignment company remains the owner of the annuity even after you invest in structured settlement payment rights  (also known as structured settlement derivatives).

Genex Capital, on one website SSQ,  solicits annuitants using the term "structured settlement quotes" to describe quotes for the purchase of structured settlement payment rights and then Genex Capital markets the structured settlement payment rights using the insurance term "annuities" to investors on Assured Annuity.  The claimed Yelp listing for SSQ suggests that SSQ is in the business of insurance despite there being no record of an active insurance license for Brad Jones, SSQ, Roger Proctor, Boris Drubetsky... I encourage Roger Proctor and /or Boris Drubetsky to come to Connecticut. I'll arrange a meeting with the CT State Insurance commissioner and we can discuss these terms and whether or not Connecticut's regulator buys into CT's definition, or Merriam Webster's and whether structured settlement payment rights are properly categorized as insurance on SSQ, a Genex Capital company's claimed listing.

**the basis is that Genex Capital's SSQ lists an address in CT at a Regus Office Center and has a claimed Yelp listing at that address. Genex Capital advertised in 2009 that it was voted one of the Best in CT by the CT Law Tribune's readers.

Postscript  July 14, 2017

On month on, Genex Capital now has an A+ rating but Genex Capital is still falsely advertising that it is an Accredited BBB business. 

 

 

 

Genex Capital Continues to Post Mount Airy Maryland Faker's Aliases in Testimonial and Company Listings

by Structured Settlement Watchdog

Why does it appear that Genex Capital does not care about whether or not is presenting truthful information about the structured settlement factoring industry to the American public?

David Springer, the Mount Airy Faker,  admitted under oath in a June 2013 legal proceeding that he made up the name James Spelling, among several others. Yet Roger Proctor led Genex Capital has continually permitted the alias to be published in a testimonial on Genex Capital website structuredsettlement-quotes(dot)com.

Here's

"Ellis A -- Albany, New York

I want to thank James Spelling (this is the fake name) and Andrew Cravenho for helping me cash out my annuity..."

In fact, Genex Capital also published James Goldstein, another David Springer fake name and 4 years after the alias was created, Genex Capital allows this blatant falsehood to be aired on its website.

The directory also includes a number of companies that are no longer in business, such as Selling Your Structured Settlements, whose proprietor Nick Jackson was recently busted on felony drug charges. During his consultancy with Genex Strategies, Inc., another Roger Proctor led company, Nicholas John Jackson worked directly on structuredsettlement-quotes(dot)com from June 2012-September 30, 2012. 

Felony Drug Charges for Former "Senior Financial Adviser" to "Structured Settlement Buyer"   January 28, 2016

Genex Capital's actions/inaction in this regard, is another black eye, when one connects the dots, to the National Association of Settlement Purchasers (NASP).  This nonsense was published during the time that Genex Capital was under consideration for and admitted for membership in NASP.  Genex Capital ceased being a member after one year.

 

The Wolf of Structured Settlements' Inflation Howl Reduced To A Yelp

by Structured Settlment Watchdog®

American consumers should not be hustled out of their structured settlement payments,  by buyers of structured settlement payments!

Genex Capital's Roger Proctor's "clairvoyance" on inflation may have more cracks than the asses he counts at the Wreck Beach Skinny Dipping contest he sponsors annually. 

In June 2009, Genex Capital began to target American consumers to sell their structured settlement payments, through fear mongering over inflation that has proven to be unfounded. Roger Proctor was cited in March 2010 "WARNING AGAIN: If you are thinking of selling your structured settlement payments, do it NOW, before interest rate increases eat into the value of your future payments and make you poorer"do it NOW, before interest rate increases eat into the value of your future payments and make you poorer"  Taking Roger Proctor's advice would have made you poorer.  The record shows that Proctor hocked structured settlement annuitants for the 4th time in November 2010 on the Genex Capital blog.

The current inflation rate represents a dip since December 2015 and a massive dip since June 2009 and March 2010 when Genex Capital began marketing the disproved inflation story. 

The "cheeky" Genex Capital CEO has brought an abundance of vertical smile to the Wreck Beach Preservation Society for many years.   The 2015 turnout put  2014 "tush-ame", a 58% increase. Only 3 months until one can learn if 2016 brings enough crack to smoke last year.

 

Genex Capital "Sloppy Joes" And More Sovereign Funding Group Connections

by Structured Settlement Watchdog®

Sloppy Joes were on the menu last month as Genex Capital Corporation served more non-native English writer generated tripe on structured settlements. 

Metaphor for Genex Capital's Obvious Reliance on Non English Native Speakers For Its Social Media Results in Embarrassing Syntax Errors That Don't Help Consumers

"Fulfilling these requirements is really rather easy if you have all papers handy. If you choose to offer organized negotiation annuity to an interested business, you must do some study on their prices due to the fact that you may discover another firm that could buy your annuity at a higher rate".     Even a person without a high school diploma would recognize that for the syntax shyte that it is.

The Genex Capital "Sloppy Joe" appears January 5, 2016 on a website called 750.today, which uses Genex Capital Corporation's UPS Store mailbox in Dover Delaware.

But what intrigued me is that sovereignfunding(dot)com redirects to 750.today and like the  popular movie "National Treasure" that led Benjamin Gates to clue after clue,  clue after clue led me to structuredsettlement(dot)ninja, which is appears tied to David Springer's baby,  "purported company" Sovereign Funding Group.

Here is what the about page on structuredsettlement(dot)ninja says:

Sovereign Funding Group through it’s website StructuredSettlement(dot)Ninja have been in the structured settlement, annuity, and lottery and casino jackpot buying industry since 2003. From 2003 to 2011, we purchased structured settlement and annuities as well as some lotteries and casino winnings that were being paid out over long periods of time. We bought these payments because the people didn’t want to have to wait for their payments. Our service was to give them an upfront cash payment and in turn, we would own the rights to their future payments.

In 2011, we started to get offers from outside groups who were interested in buying the structured settlements that we had been buying ourselves from 2003 to 2011.  By selling to them, it allowed us to grow because we had more cash flow (we weren’t just using our own in-house money).

It was in 2012 when we began to get contacted by larger institutions that were interested in buying large lots of the structured settlements/annuities.  These groups buy large volumes of these structured settlement/annuity/lotteries/casino winnings, etc. (all assets that pay over time) into a single asset (pooling assets) for investment purposes.     

Comment  in David Springer v Erie Insurance Exchange, Springer claimed he was not in business during this time frame in an effort to get his homeowners insurance to pay the $60,000 in legal fees he owed for the defense of the defamation lawsuit brought by JG Wentworth over various sucks websites targeting JG Wentworth allegedly created by Mt. Airy  MD based David Springer, which settled March 2, 2012. The published  information seems to contradict that position and David Springer's testimony in another case which led to an April 30, 2015 judicial finding in another 2011 lawsuit rendering David Springer liable to Woodbridge Structured Funding

Unparalleled Experience and Commitment

Sovereign Funding Group provides a commitment to our clients like no other. We are dedicated from the moment you take interest and you can guarantee that we will take you through it step by step. We know that this can be a complex matter that requires an understanding of bond and debt information. But you don’t have to be confused about this as Sovereign Funding Group’s 15 years of exceptional experience and knowledge ensure you of the best deal. Our company has renowned experts in everything related to buying or selling structured settlements and annuities, lotteries and casino winnings. We want you to have the supreme hold over your financial choices, which is why we offer our consultation services to give you a knowledgeable choice—whether it be investing in and/or selling any of these instruments. We are committed to go beyond the typical service, and our strong client relationships are a testament to that. We uphold impeccable trust, ethics, and integrity. And our top-notch expertise gives you solutions that deliver.

Comment:  In a case of simple arithmetic, how can a company that has only been in business for a bit over 12 years,  having it's proprietor testifiy in legal proceedings that he was the only employee of the business and that a portion of those years he was not in business (see Springer v Erie Homeowners claim above)  have "15 years of exceptional experience and knowledge?"  The math just does not add up.

Sovereign Financial Solutions

"Because here at Sovereign Financial Solutions, we want you take hold of your life once again and give back your financial sovereignty in your life".

 Comment:  Sovereignty is understood in jurisprudence as the full right and power of a governing body to govern itself without any interference from outside sources or bodies. Having financial Independence doesn't mean you're supreme to the IRS, or the INS, otherwise David Springer's former attorney Elyce Strickland, would not have plotzed about him to take the 5th during a June 28, 2013 deposition, at the same time David Springer was blurting out (in response to the question of why he impersonated his wife Melissa Stoloff Springer in a Google forum, while posing a question relating to his business) "he wasn't legally allowed to work yet"

The contact information leads to

Sovereign Funding Group / StructuredSettlement.Ninja       <------same Regus Office Center address used by Genex Capital on its BBB report.
400 E Pratt St, Baltimore, MD 21202
info@StructuredSettlement.Ninja

• The structuredsettlement(dot)ninja web page lists Sovereign Funding LLC which does not come up on the grid in Maryland, Florida, Delaware, Nevada, Wyoming, California or Missouri.
• The structured settlement ninja Facebook page is simply a rename of the Sovereign Funding Facebook page. The comments from January 2013 between Melissa Stoloff Springer and Melanie Miller, one of David Springer's admitted fictional female personae still remains.
• On a post dated September 2, 2015, Sovereign Funding Group, via Structuredsettlement(dot) ninja completely plagiarizes the August 25  2015 Washington Post expose about the Baltimore lead paint structured settlement exploration by Access Funding. According to Legal Zoom, an unregistered work of authorship enjoys basic copyright protection that allows the copyright owner to receive infringement damages up to the amount that he can prove. If the work is registered, the copyright owner can receive statutory damages of up to $150,000 per act of infringement, as of 2012, without proving damages. Since many newspapers and other publications publish daily, the U.S. Copyright Office allows copyright owners to register groups of copyrighted works by filing a single application. If the work is registered within three months of first publication, the copyright owner can claim statutory damages even if the infringement occurred before the work was registered.
• And the most comical of all is the Sovereign Funding Group privacy policy which refers to long discontinued browsers such as Netscape Navigator and internet service providers such as Netcom.com, which disappeared 18 years ago!  "Experience, Knowledge" and awareness of current events from 2 decades ago?

 

Felony Drug Charges for Former "Senior Financial Adviser" to "Structured Settlement Buyer"

by Structured Settlement Watchdog®

Busted!

Nicholas John Jackson, an Annapolis Missouri man formerly associated as a consultant with various structured settlement buyers, is now facing felony drug charges filed in St. Francois County on  January 6, 2016, according to public records [see 16SF-CR00066 - ST V NICHOLAS JOHN JACKSON at Case.net].  Jackson has served jail time several times since 2012 and it was only in September 2015 that Jackson was sentenced to 80 days in jail over a domestic assault charge from September 2012.

Nicholas Jackson, who also operated as Jackson Structured Funding and Selling Your Structured Settlement (SYSS) in Annapolis Missouri, was a consultant for Genex Stategies, Inc., the parent company to Genex Capital. Genex is the owner of StructuredSettlement-Quotes(dot)com  [ a fact that it deliberately concealed from May 2012 to June 2015, when a lawsuit by Woodbridge Structured Funding alleging that SSQ was nothing more than a fraudulent and deceptive scheme, was settled].  Nick Jackson worked on the SSQ site.

Without a license and relevant credentials, Nick Jackson has also held himself out on LinkedIn as a "Senior Financial Adviser" to Mt Airy's David Springer, of a judicially determined purported company "Sovereign Funding Group", who himself was sued in 2011 and later found liable by a Maryland Federal Judge in 2015. Jackson and his mother were SEO/SMM marketing consultants to David Springer and SFG from 2011-early 2012 during which time dozens of oddball videos were produced promoting Sovereign Funding Group as a business and a going concern and in one case, fraudulently promoting David Springer as a lawyer.  That video was submitted as evidence in the Woodbridge Federal case against Springer. Yet despite large sums of money being paid to Oassist and extensive video evidence to the contrary that remains on the Internet, David Springer  contended in suing Erie Insurance Company (for legal fees to defend a 2011 defamation suit brought by JG Wentworth that settled in March 2012) that Sovereign Funding Group was not actually in business during that time frame and therefore they should pay the legal fees under the homeowners policy.

Ironically Jackson's January drug bust occurs while Genex operates Abaca RX an online medical marijuana consulting service in Vancouver Canada.

We continue to call for robust regulation of the structured settlement secondary market that includes a licensing standard and background checks.  No such regulation exists today.