The Cincinnati Enquirer reported that Orlando Carter, the founder of Dynus Corp., filed a lawsuit for $500 million in damages against Fifth Third Bank and PNC Bank, along with politicians of Butler County, OH and John Boehner.
According to the Enquirer, Carter, who is currently imprisoned on five counts of bank fraud, claims that the charges levied against him are not true.
The Enquirer said the list of defendants in the lawsuit includes Fifth Third Bank as well as Ralph Martinez, chief operating officer of PNC Equipment Finance and National City Commercial Capital; Thomas Barnhart III, attorney for of PNC Equipment Finance and National City Commercial Capital and Vince Rinaldi, CEO of PNC Equipment Finance and National City Commercial Capital.
With the first implementation of ASC 842 fast approaching and lessees recognizing that the off-balance sheet operating lease will be a thing of the past, the leasing industry is now starting to see inquiries regarding whether financing structures can be... read more
Monitor 100 2018
Implementation of ASC 842 Leases will begin for larger companies in the fiscal years starting after December 15, 2018 and in fiscal years starting after December 15, 2019 for other companies. The impact of this accounting standard is operating leases... read more