The CFO of Five Hole LLC, which buys accounts receivable from cash-strapped businesses, was sued in Delaware by its former top attorney, who claims the company doctored its books to justify overpaying executives and stiffing its collections lawyers.
Five Hole, an affiliate of private equity firm Capital Z Partners, runs various merchant capital advance companies under the banner of Pearl Capital Business Funding LLC, according to the Dec. 6 complaint. The Chancery Court suit was filed on Five Hole’s behalf by Steven Berkovitch, its former general counsel.
The company in 2016 allowed Berkovitch and his deputy, Ariel Bouskila, to spin ...
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