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: Structured Settlements 4Real

Treasury's Financial Crimes Unit Eyed Potential Purchase of Structured Settlement by Terrorist Organization

By John Darer

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Buried on page 34 of the 74 page January 2010 Suspicious Activity Report Filings of the United States Treasury's Financial Crimes Enforcement Network is:

"Another report described an inquiry from a third-party structured settlement broker regarding the possible purchase of a ?non-qualified structured settlement annuity.? According to the narrative, the broker said the payees of the settlement were American citizens and the payor was an ?unnamed foreign terrorist organization? backed by an unfriendly foreign government. The broker refused to divulge the identities of any of the involved parties, ?repeatedly stressed that the transaction was legitimate,? and cited an unnamed legal opinion that ?indicated that no OFAC license was needed.? The broker provided no documentation, and later withdrew the proposal".

Full post as published by Structured Settlements 4Real on January 31, 2010 (boomark / email).

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