DRB Capital Files Complaint with California Attorney General Regarding Illegal Conduct in the Structured Settlement Factoring Market

DELRAY BEACH, Fla., Nov. 13, 2018 /PRNewswire/ -- DRB Capital, LLC ("DRB Capital") today announced that as part of its continuing efforts to root out and end structured settlement fraud, the company has filed a complaint with the California Attorney General regarding the behavior of Himmarshee LLC, Mosbat LLC, and Annuity Sold LLC. 

The complaint details the respondents' use of unfair and deceptive practices in efforts to hijack customers of DRB Capital and is the first in a series of complaints that the company is filing with Attorney Generals around the country.  "We expect to file several more complaints against other bad actors in the industry," said Allie Freshman, Associate Counsel at DRB Capital.  She added that additional complaints are being prepared for filing with the Attorney Generals of Arkansas and Florida and that the company is considering filing similar complaints in other states.

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 www.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.

SOURCE DRB Capital, LLC