DRB Capital Goes After Structured Settlement Factoring Parasites
Violation of Florida's Deceptive and Unfair Trade Practice Act, Tortious Interference
Jan 15, 2019, 09:03 ET
DELRAY BEACH, Fla., Jan. 15, 2019 /PRNewswire/ -- DRB Capital, LLC ("DRB Capital") today announced that as part of its continuing efforts to uncover and stop structured settlement fraud, the company has filed a complaint against Rightway Funding LLC, BTG Advisors LLC, Sempra Finance LLC, Greenwood Funding LLC, and JLC Capital Funding LLC in Palm Beach County, Florida.
The complaint details the systematic theft of DRB Capital's customers. The allegations include one count of violation of Florida's Deceptive and Unfair Trade Practices Act, and two counts of tortious interference. In the suit, DRB Capital is seeking compensatory damages and will seek treble damages, attorney's fees and court costs as permitted by FDUPTA, as well as punitive damages, as appropriate.
Jim Terlizzi, CEO of DRB Capital, said: "These firms are resorting to unfair and unethical practices in an attempt to gain a competitive advantage. These unlawful practices are detrimental to the fair and ethical players in the industry as well as to the consumers, and we will not tolerate it."
DRB Capital recently established the "Stop Structured Settlement Fraud" bounty program and tip line to pay awards totaling up to $100,000 to reward individuals who come forward with information proving violations of various laws in connection with the business of purchasing structured settlement payment rights. Violations include violations of state structured settlement protection acts, improper forum shopping, violations of state and federal deceptive and unfair trade practices act, and federal excise tax evasion.
Since the bounty program's launch in August 2018, DRB Capital has awarded one payout and received numerous tips and credible information about these unfair, deceptive and abusive activities. Many of these violations are criminal in nature, including the routine falsification of information submitted to state courts as part of structured settlement transfer petitions.
Please visit StopStructuredFraud.com for more details on how to participate in this program and for the full list of eligibility requirements.
About DRB Capital, LLC: DRB Capital is a leading purchaser of annuity payments and payments from structured legal settlements. The company offers liquidity and optionality to prospective sellers in need of cash who receive guaranteed and/or life-contingent structured settlements or annuity payments. For further information, visit DRBcapital.com.
SOURCE DRB Capital