Sovereign funding group claims to quickly provide structured payment to its clients therefore assisting them earn liquid money from their non-liquid incomes such as life insurance. Sounds good, or does it? On the other hand, the funding group is not as transparent as you would want it to be; its bizarre nature keeps getting out of hand. This is review is meant to shed a light on issues surrounding The Sovereign Funding Group, to enable you make informed choices when partnering with an annuity buyer.
Fake Claims Regarding Customer Base
The Sovereign Funding Group has previously claimed to possess a client base larger than that of any other funding group. They have also claimed to have made payment transfers ranging more than a billion. Surprisingly, after making these claims, three months did not pass before one of David Springer’s (the group’s CEO) former attorneys circulated emails that suggested he had been having major financial problems. Furthermore, when David Springer and his group were sued by Woodbridge Funding Group, their team of lawyers decided to withdraw from the case citing that they were not receiving any payments for their services. As a rule of the thumb, an organization with the largest client base and the most money transfer transactions cannot fall into such overwhelming financial issues. Therefore, they must have been dishonest in their claims for various unethical reasons.
Lack of a Website
Have you heard of any reputed company that does not own and operate a proper website in this day and age? Sovereign Funding Group does its online operations through disreputable redirect websites. This is a clear enough metaphor for the group’s inability in what they claim to do. Moreover, the group has been known to participate in various social media cover-ups especially on Facebook. One such cover-up was when David Springer attempted to conceal his existence as the group’s CEO by uploading a cartoon character called Goldstein as the group’s CEO. Furthermore, there were very unclear circumstances surrounding a post about the group’s jackpot Powerball draw of $110 million. Some of the comments to the post, especially those written by David Springer’s wife appear to have been deleted.
Inaccurate Listing with the Better Business Bureau (BBB) Of Maryland
The company was previously certified by the BBB of Maryland as having met the qualities of an A+ business organization in terms of long duration of operation and high levels of customer satisfaction. However, this situation suddenly changed in 2013 and data in the BBB files seemed to suggest that the group was no longer doing business. In addition to this, the telephone numbers that BBB kept for the group are disconnected. Furthermore, David Springer admitted to having submitted inaccurate data to the BBB.
Judging from the BBB files, it is clear that The Sovereign Funding Group is no longer operational. Furthermore, there was a press release from the group in 2014 stating that it had resolved to close its doors. Therefore, it would be advisable for you to seek a lawsuit if you have any unsettled business relations with the group.
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