Opinion – April 2020
Is Steven Kazan Covertly Misappropriating Asbestos Trust Money to Pay Off Medicare Debts for Clients?
Everyone knows the Department of Justice is investigating Steven Kazan and Asbestos Trusts.
For decades, Kazan, a “Trust Advisory Committee” Member for nearly every Asbestos Trust in the Country (approximately 30), has ‘raped’ Asbestos Trust Funds for his thousands of mesothelioma clients – Billions of dollars in Asbestos Trust victim’s funds. Kazan absolutely destroying the Trust funds – with every one paying less money (if at all) to identical claimants from other Firms. Every present and future Asbestos victim receives less money from Asbestos Trusts due to Steven Kazan.
But now the Department of Justice has come calling Kazan and Asbestos Trusts….and they want monies owed to the government for Medical treatment. Many asbestos victims received medical payments through Medicare which (in some cases) triggers an obligation to reimburse the government for Medicare expenditures.
But what if a Firm (Kazan McClain) had not reimbursed the government for years or decades?
What if the “kings of Double Dipping” (Kazan) had been deceiving the government for a decades?
There could be tens of millions owed by Kazan’s clients to the government now.
Is Kazan going to go back to his old clients and ask them to send him a check for the reimbursement? Certainly not!
So how does Kazan come up with the monies owed? More misappropriation. As a “Fiduciary”, Kazan has undeniably “concocted” a system to misappropriate funds. “Glitches”? Yes – according to Trusts (colluding with Kazan). Bad Faith? Of course if Kazan is involved.
It’s estimated to be about $24,000.00 per case due to the government where Medicare reimbursement is triggered. It’s also estimated that Kazan has represented well over 3000 mesothelioma victims over the past 25 years. What if just 1/3 hadn’t paid their medicare obligation (say, 1000 old clients). 1000 x $24,000 = $24,000,000.00 owed to the government.
Kazan certainly won’t reach in his pockets to pay the money….so how does he come up with it? Apparently – more Trust fund ‘theft’….
Here’s how – Can someone explain why – in the past 90 days with no warning/notice – multiple Asbestos Trusts (all run by Kazan) have awarded Individual Review Claimants (mostly Kazan’s) tens of millions in additional funds? Unbelievably, on Trust claims where Kazan has already misappropriated millions, the same Trusts are now paying Kazan millions more..(clearly due to Kazan’s insider dealing). No Trust Notices. No Announcements. Just an award of ‘more’ money.
Examples?
The Pittsburgh Corning Asbestos Trust did it in 2019 (with Kazan reaping about $30,000,000.00 for his client/debtors).
So did the NARCO Asbestos Trust in 2020 (with another $20,000,000.00 going to Kazan). How can these Trusts run by Kazan just ‘peel off’ $50,000,000.00?
And here’s the best one – Owens Corning/Fibreboard – again in 2020! This Trust indicated (privately) there was a prior “Glitch” in the system and “certain” claimants (mostly Kazan’s) were receiving additional funds…tens of millions were paid to Kazan and his ‘old’ claims (the ones with Medicare obligations)….due to a “glitch”. I’m certain the D.O.J. doesn’t know about the “glitch”….
Steven Kazan is misappropriating Asbestos Trust monies in 2019-2020 to pay off his client’s Medicare debts!
It is the only reasonable answer why “Court and Trustee supervised” asbestos trusts would ‘secretly’ pay out millions…
Kazan’s clients owe the government millions for Medicare reimbursement and Kazan needs more money for his clients to pay off their debts! So what does he do? Kazan ‘misappropriates’ PCC Asbestos Trust funds and NARCO funds to pay off the debts (through self-dealing, insider dealing and fraud), same with OCF/Fibreboard….to further deceive the Department of Justice….and effectively harm every asbestos victims in the Country (who now receives less from these funds…).
Unless someone can explain otherwise…it’s the only reasonable explanation…why the PCC and NARCO and OCF Trusts are paying Individual Review claims (mostly Kazan’s) millions in additional funds…
This guy (Steven Kazan) is a loser – Time for him to retire to his mountain of (stolen) money instead of stealing more from Asbestos Victims….and please Mr. Kazan take your criminal self-dealing buddies David McClain and Alan Brayton with you…..
Steven Kazan – Asbestos Trust Fund Thief – Do Not Hire Steven Kazan
Kazan in the man most responsible for putting millions of Americans out of work, bankrupting over 50 Fortune 500 Companies, and then Misappropriating Victims’ Trust Funds….A Legacy of Fraud….