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Factoring fraudster sentenced to 63 months in US prison

A Monmouth County, New Jersey, a man was sentenced today to 63 months in prison for defrauding lenders of US $50m in connection with an invoice factoring scheme perpetrated over nearly a decade, U.S. Attorney Philip R. Sellinger announced.Vincent Galano,...

#funding#invoice#MAN

GRENKE signs purchase agreements for first franchise companies in...

GRENKE Group (GRENKE), a global financing partner for small and medium-sized businesses... (more…)

#acquisition#bank#GRENKE


Coface publishes China Corporate Payment Survey 2022

Coface’s 2022 China Corporate Payment Survey[1] shows that fewer firms encountered payment delays... (more…)

#cash-flow#insolvencies#Paid


Coface announces record income for 2021

Coface publishes their financial results for 2021 and shows record income for the year.Main results are presented below:Turnover: €1,568m, up…

#confirming#management#Paid


Afreximbank launches US$6.5bn equity capital increase

African Export-Import Bank has embarked on a US$6.5bn general capital increase (GCI) to... (more…)

#bank#Benedict Oramah#COVID-19


Banca Monte Paschi di Siena in discussions for at...

Italy is in talks to inject at least EUR 5bn (US$5.6bn) into Banca Monte Paschi di Siena SpA (Monte Paschi)…

#leasing#Paid#risks


Coface records high net income this year

Coface records a good start to the year with a net income of ... (more…)

#crisis#debt collection#economy


Director handed 10-year ban for creating fake invoices

Pure Point was incorporated in April 2009 and Russell Ivan Murch... (more…)

#fake invoices#insolvency#management


New US bankruptcy law reduces Chapter 11 fees

The “Bankruptcy Administration Improvement Act of 2020” was signed into law... (more…)

#bankruptcy#COVID-19#DEC


Egypt launches ‘revolutionary’ e-invoice system

Egypt is set to launch a ground-breaking electronic invoice... (more…)

#digital#digital transformation#invoice


Paid launches to transform procurement

Since the start of COVID-19, 97% of businesses have experienced some form... (more…)

#Paid


UK companies to pay penalties on late payments to...

Large UK companies could face fines or penalties if they... (more…)

#cash-flow#Paid#small business

Factoring finance to SME sector increases by 23% in...

The local Russian factoring association, Association of Factoring Companies (AFK), has published the results on the factoring development in the…

#credit risk#Paid#risk

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