ClaimAngel, a Florida-based litigation funding firm marketed as “the first and only legal funding marketplace where funders deploy capital, attorneys protect, and people win,” is run by Jeremy W. Alters, a disbarred attorney whom the Florida Supreme Court permanently disbarred in 2018 for mishandling client funds. Now serving as the Chief Strategist for the Berman Law Group, Alters oversees ClaimAngel alongside the firm’s founding partners, creating a deeply intertwined relationship between the law firm and the funding platform – highlighting significant ethical concerns.
Alters has claimed that ClaimAngel is not a traditional lender, but a marketplace designed to connect funders and attorneys to secure the best possible rates for clients. He touts capped interest rates, no credit checks, and minimal documentation requirements—features that, on the surface, appear client-friendly but conveniently sidestep the scrutiny and regulation that apply to conventional lending practices.
In reality, ClaimAngel and Berman Law follow a familiar pattern in the personal injury world: maintaining control over every aspect of a victim’s case—legal, financial, and medical. By referring their own clients to ClaimAngel for pre-settlement funding, Berman Law positions itself to profit at multiple points—through legal fees, interest-bearing advances, and loan repayments. This vertically integrated setup allows the firm to extract maximum value from rideshare accident settlements, often at the expense of the very clients they claim to champion.
Despite his expressions noting his “collective” attitude in the legal process, Alters has faced numerous investigations for improperly handling client funds, leading to disbarment, by the Florida Supreme Court.
In November 2018, the Florida Supreme Court delivered a harsh condemnation of attorney Jeremy W. Alters, resulting in his complete disbarment. Following years of disciplinary actions, audits, and legal turmoil, the Court presented a damning final opinion: Alters had improperly handled client funds, breached several professional conduct regulations, and participated in dishonest conduct that was inexcusable and could not be ignored.
The trouble began in 2011 when The Florida Bar submitted an emergency petition to suspend Alters, claiming that he had improperly transferred nearly $2.05 million from trust accounts between September 2009 and December 2010. The Florida Supreme Court concurred and issued a temporary suspension.
The court found Alters had made improper transfers, knowingly allowed his firm’s trust account to be used to cover operating expenses and even fund his own personal account. He also misused client funds to pay other clients, without permission. Ultimately, Alters was found in violation of safekeeping client property rules, misuse of trust funds, and dishonest conduct.
Alongside the disbarment, the Court ordered Alters to pay $305,360.03 to cover The Florida Bar’s prosecution costs, rejecting a referee recommendation that Alters receive compensation for his own legal expenses.
Even in his non-attorney role after being disbarred, Alters found a way to maximize profits for himself, controlling the process, and hurting consumers.
This is not the only instance where lawsuit lenders take advantage of consumers for profit. Ray Donadio, the founder of Tribeca Capital Group, has a documented history of legal and ethical misconduct tied to his role in the litigation funding industry. In 2011, Donadio pleaded guilty to conspiracy to commit wire fraud through his previous firm, The Law Funder LLC, alongside partner Mathew Sheldon. According to the Department of Justice, Donadio used coded transactions to conceal a kickback scheme and misappropriated company funds to purchase drugs, gamble, and solicit prostitutes. His legal troubles continued in 2017, when he was fined $70,000 by the Consumer Financial Protection Bureau for misleading regulators about litigation loans made to vulnerable clients—including NFL concussion victims and 9/11 first responders.
There are many strong examples of attorneys–and former attorneys–taking advantage of personal injury victims to fill their own profits, but the time is now to fix the system and protect consumers.