Structured settlement trade name dragged into the mud of Rothstein case

On today's Speaking of Settlements I am joined by John Darer as we discuss the Scott Rothstein case in South Florida where it appears Rothstein was at the center of a major financial fraud involving the "cash now" group that preys on desperate plaintiffs who need money.




While that case and story are deserving of several broadcasts, today's centers on the careless use of the term Structured Settlements in the complaint that was filed to dissolve the firm. The complaint or petition to the court described the lending pool as a collection of structured settlements, when the proper definition clearly would have been law suit loans or cash now programs.

We will be doing several follow up stories on this, but for now it is important for every settlement professional to be aware that thanks to the wide spread reporting of this story that our trade term of Structured Settlements is being linked with one of the biggest frauds ever perpetrated by a lawyer and we need to be proactive in protecting our profession.

Posted on November 4, 2009 .