Head of PayDay Today Arrested on Suspicion of Fraud

David L’Hoir, who ran the organisation PayDay Today was arrested by the FBI in Fort Lauderdale, Florida on suspicion of mail fraud, wire fraud and money laundering. There is also probable cause to believe he is operating a Ponzi scheme.

Berkshire Hathaway and Leucadia National to Bail Out Finova

The US Bankruptcy Court in Delaware approved a plan by Berkshire Hathaway Inc and Leucadia National Corp to bail out commercial lender Finova Group Inc, the troubled international financial services company which sold its factoring division to GMA

Ruling Aids Factoring Firms in Agricultural Industry

Financial firms that factor agricultural accounts receivable won a big victory last week that should help sustain the crucial liquidity that such firms provide to agricultural brokers and, indirectly, to growers.

Asta Reports 62% Increase in Net Income

Asta Funding, the financial services company which specialises in factoring and the purchase, liquidation and management of performing and non-performing consumer receivables, today reported results for its second quarter ended 31 March 2001.