Interesting Comments From One of My Readers Regarding Citigroup And Asta Funding

rwtqegre
yrd@jxdf.com

The Law Firm of Klayman & Toskes is also investigating Citigroup’s management of its ASTA Fund (Palisades Collections). The ASTA Fund was managed in similar fashion to that of MAT Five. Many retirees have also been burned by the ASTA Fund, as it too is down about 90%.
If you are an investor of Citigroup’s MAT or ASTA Funds and wish to explore your legal options, please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956. You may also visit us on the web at http://www.nasd-law.com .

Insiders seem to be dumping ASTA stock (symbol ASFI). Why? Multiple Class Action lawsuits perhaps? Below is part of Asta Funding (Palisades Collecctions) agreement with subserver Unifund CCR Partners (a Registered Trademark in Ohio with no Legal Capacity to sue anybody in any court). Could it be that the Zises Brothers Unifund is self destructing and will take down Asta Funding with it? Does the management of Asta Funding know that working with the Zises family, old man Bernard (Ben), sons Jay, Selig and Seymour is a great way to get burned really bad.
Look at the history of the Zises management of Integrated Resources (owing investors $995 million) or Seymour’s management of Family Management Corp. and his huge investor losses on the Madoff gamble.
Asta Funding is so desperate to disguise its relationship with the Zises Brothers Unifund that they have resorted to releasing a grossly misleading press release:
“EXCLUSIVE: $3 Billion Portfolio to Hit Market Next Week
A $3 billion face-value credit card debt portfolio is set to go on the market next week, according to a debt buyer who is not the seller and who asked to remain anonymous (Gary Stern President, Asta Funding (201) 567-5648 x225, garystern@astafunding.com).
The portfolio, which is being sold by a debt buyer, consists of more than 1 million accounts, mostly credit cards, and will be divided into segments of $100 million or greater, the source says.
Sales will be brokered by Cincinnati-based debt buyer Unifund, which is the second largest buyer in the U.S. by revenue, according to CCR’s annual industry rankings.
There are rumors the seller is New Jersey-based buyer Asta Funding, Inc., which in February purchased a $6.9 billion portfolio in one of the biggest deals in the industry. The rumors seem supported by the Unifund Web site, which contains a confidentiality agreement between Asta Funding and prospective buyers on its “Indirect Paper Prospective Buyers” section.
But Asta CFO Mitch Cohen tells CCR it is not their portfolio, though he declined to provide more comment.”
The truth, however, is in this ASTA Funding agreement (an agreement that rewards Unifund with a premium for collecting “…outside the related statute of limitations”):