Litigation

All of Defendant Marlon G. Oddo's twelve affirmative defenses asserted in his answer to the complaint reported on June 14, 2010 have been stricken from the record with prejudice according to the Order of Broward County Judge Eileen O' Connor on June 28, 2010. Download 2010-6-28 Order on P's MTS D's Oddo's 12 Affirmative Defenses

The items stricken include the scandalous allegation concerning Structured Asset Funding executive Michael Asseff.  This author understands that in deposition testimony Oddo admitted that he was not present at any of the events described in the now stricken defenses and hence could not have first hand knowledge of the truth. In other words he fabricated the story.  Did he do so alone?

There is much more to the intrigue in this story that is unfolding and I will be covering what I've learned, and continue to learn, in future posts targeted to industry leadership, state insurance commissioners, members of Congress, members of state legislature and members of the Bar. What I am learning underscores what I have emphasized for years, the critical need for factoring industry regulation.

The factoring industry as it applies to structured settlements has no licensure requirements. Adding credence to the moniker "cash now pusher" this has enabled those who have criminal records in areas such as attempted trafficking in cocaine and grand theft auto to slip through the cracks and work in financial areas concerning life impacting financial decisions for those who are most vulnerable.   How is this possible?