Studio City Man Who Allegedly Embezzled $40 Million Faces Federal Charges – MyNewsLA.com

Share this article: A long-time manager at the CBS Employees Federal Credit Union in Studio City faces arraignment April 18 on federal charges for allegedly embezzling $40 million from his employer over two decades, leading the financial cooperative to be declared insolvent Friday by a government agency. Edward Martin Rostohar, 62, of Studio City, spent…

Napoleon Perdis finds possible saviour in Chinese e-commerce experts – SmartCompany.com.au

Napoleon Perdis has found a potential saviour in private equity firm KUBA Investments, which has offered to purchase the collapsed cosmetics business for an undisclosed sum. The deal, yet to be approved by creditors, would see prominent cross-border retailer Livia Wang and her business partner Henry Lee take control of the business, with an eye…

Romanian construction company owned by Greek investor files for insolvency – Romania-Insider.com

Octagon, one of the largest construction companies in Romania, controlled by Greek businessman Alexandros Ignatiadis, filed for insolvency on March 22. The company had RON 65 million (EUR 14 million) turnover and RON 60 million (EUR 11 million) debtat the end of 2017. The company decided to file for insolvency itself after several of its…

Good outcome from creditors-company negotiations better than insolvency: Centre on Jet crisis – The Hans India

NEW DELHI: As Jet Airways battles acute financial woes, a senior government official Monday said a “good outcome” from the negotiations between the creditors and the company would be better than moving for proceedings under the insolvency law. “I think creditors and the debtor are in discussion. That is the best process,” Corporate Affairs Secretary…