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factoring

Executive indicted after four-year factoring fraud investigation

A million-dollar executive has been indicted with five others by federal grand jurors in connection with businesses that collapsed amid a web of investment fraud. The indictment charges Angelo Tullo with 29 counts of conspiracy, money laundering and wire fraud...

Factoring fraud at Parmalat under investigation

The Bologna public prosecutor's office last week began an investigation into the possibility of factoring fraud at the failed Italian…

#factoring fraud#financial services#Italian factoring


Factoring industry profits plunge on higher costs

Profits at Mexico's 16 factoring companies fell 21.5% to 157m pesos (US$13.5m) in 2003 due, in part, to higher administrative…


Banco Espirito Santo sues over US$170 million factoring fraud

Banco Espirito Santo International Ltd (BES) sued accounting firm BDO Seidman on Tuesday, alleging it "rubber-stamped ... obviously false financial…

#bank#factoring fraud#international


Stand-alone factoring a thing of the past – GECF...

It’s a fact. The factoring industry here in Singapore is seeing fewer and larger players as the market for financing…

#bank#commercial finance#financial services


Merger on hold for Credit Agricole’s factoring unit

The factoring divisions of French banking groups, Credit Agricole and Credit Lyonnais, have made considerably less progress in merging than…


Miami factoring scam – four plead guilty

Four men pleaded guilty to defrauding a Portuguese bank branch of US$170m through a sophisticated conspiracy that lasted nearly a…

#bank#Bill#Paid


Singapore bank lacks factoring presence, despite BoA buy –...

The 22bn baht purchase of an 80 per cent stake in the Bank of Asia by United Overseas Bank (UOB),…

#acquisition#bank#banks


Turkish factoring company sells majority stake

Strategic Internet Investments, the Canadian investment company, is to purchase a 51 per cent controlling interest in Turkish factoring company,…


Software firm renews euros7.5m factoring contract with Fortis Commercial...

US software firm PFSweb has renewed a series of senior debt agreements, which include a factoring facility, with Fortis Commercial…

#commercial finance#factoring contract#financial services


FIMBank strategy adds factoring to core product offering

First International Merchant Bank p.l.c. (FIMBank) Group Chairman, Mr Najeeb H.M. Al-Saleh, gave an overview and outlined FIMBank's achievements during…


Laiki Factoring says turnover up in Q1

Laiki Factoring, a subsidiary of Laiki Bank (Hellas) SA, has said its turnover in the first four months of 2004…

Santander Central Hispano sells factoring and leasing business

Santander Central Hispano (SCH) is to sell the leasing and factoring businesses of Norway's Elcon Finans to French banking group…

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