Rescue Capital Blog Your Money, Your Way

1May/12Off

Two former insurance agents receive jail time for swindling elderly clients

Posted by Dawn Anderson

New York regulators have announced that former insurance agents Cynthia Gibbons aka Cynthia Bulinski, 48, and Kellie Will, 47 were sentenced to jail time and restitution for swindling $400,000 from elderly clients.

The agents, who had scams in place to steal approximately $2.4 million, fraudulently changed beneficiary information on annuity contracts.

According to investigators, the pair admitted that Gibbons, an investment advisor, sold annuities and then changed beneficiary information to Will who received payouts when the clients died. Gibbons and Will would than split the proceeds. Gibbons also received commissions on the sales.

A funeral director notified authorities because he was suspicious of a death certificate request by the pair for one of Gibbons’ clients. The pair wanted the certificate so Will could make a claim as the beneficiary of the annuity. The investigation ultimately led to their arrest.

Gibbons was employed at a Key Bank for 10 years before becoming an independent broker/dealer with J.W. Cole Financial. Previously, she was also associated with Cadaret Grant, another investment advisory firm. Her licensed was revoked in December.

Will was a Key Bank employee and her license expired in 1997.



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23Aug/11Off

Cash for Royalty Payments

Posted by Dawn Anderson

Often people think that Rescue Capital only purchases payments from annuities or structured settlements. This is far from the truth. While in the past, we’ve written about our pending settlement cash advances as well as some of our other products available to give consumers quicker access to their future payments we may have neglected to tell you about our royalty payment accelerator program.

If you are receiving payments from BMI (Broadcast Music, Inc) or ASCAP (American Society of Composers, Authors and Publishers) you have the option of converting that payment stream into a cash lump sum through our payment accelerator program. This flexible option allows you to sell some of your royalty payments in exchange for a cash lump sum while still keeping some money coming in. Depending upon your situation you will be able to get the cash you need in as quick as 30 days.

Rescue Capital purchases payment streams from:

  • Radio
  • Television
  • Sports Contracts
  • Commercial music/jingles

If you’re a writer, publisher, composer, athlete, artist, actor or beneficiary of a royalty payment stream who is looking for a cash lump sum for all or part of your future payments, give us a call at 866.688.3532.



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20Oct/100

Word of the Day: Beneficiary Clause

Posted by Dawn Anderson

A beneficiary clause is a stipulation in an annuity that allows the owner to name primary and secondary beneficiaries. The beneficiary can be changed as defined by the terms of the annuity contract.



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26Aug/100

Word of the Day: Certain and Life Annuity

Posted by Dawn Anderson

Certain and Life Annuity (C&L) is an annuity that makes payments for life of the annuitant with a certain number of guaranteed years. For example, if you have a life annuity with a 20 year guarantee, the first 20 years are guaranteed to you or your beneficiary and the remaining payments will continue as long as you alive (life contigent). If the annuitant dies in year five, the payments would be made for the remaining 15 years to the beneficiary. However, if the annuitant dies in year 21 the beneficiary would receive nothing.



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