# 1st Global

> 1st Global Capital was a Hallandale Beach, Florida, business-finance company founded in 2013 that offered merchant cash advances and marketed unsecured funding, factoring and asset-based financing. It funded its operations through retail investor notes, filed for bankruptcy in July 2018, and became the subject of civil and criminal fraud proceedings. Former chairman Carl Ruderman pleaded guilty in 2023 and was sentenced to five years in prison in January 2024.

- **Founded:** 2013
- **Headquarters:** Hallandale Beach, United States
- **Founders:** Carl R. Ruderman (Founder; former chairman and CEO)
- **Products:** Merchant cash advances, Unsecured business funding, Asset-based funding, Factoring, Split funding

## Products & services

- **Merchant cash advances** — Historical core business: short-term funding to small and medium-sized merchants, with repayment arrangements tied to sales or daily bank withdrawals. The original company subsequently ceased operations.
- **Unsecured business funding** — Marketed as fast business capital without collateral and with an emphasis on business cash flow rather than perfect personal credit. Approval and timing claims were marketing claims.
- **Asset-based funding** — Advertised financing secured by machinery, property, inventory or receivables; independently verified origination volumes are unavailable.
- **Factoring** — Advertised advances against earned but unpaid receivables; independently verified product volumes are unavailable.
- **Split funding** — Advertised repayment using a portion of credit-card processing receipts, with compatibility with existing processors.

## Latest updates

- **2026-05** — A May 6 order in the related relief-defendant receivership approved sale of a Binance cryptocurrency account to a non-party buyer and a final $6,525 consultant payment. This is asset-recovery activity, not evidence of renewed lending.
- **2024-06** — A bankruptcy adversary proceeding entered a $145 million consent judgment against Carl Ruderman, subject to the settlement’s credit provisions; a judgment is not the same as cash recovered.
- **2024-01** — Carl Ruderman was sentenced on January 31 to five years in prison and ordered to pay a $285,599,532 forfeiture money judgment. The DOJ announcement was published February 1.
- **2023-10** — Ruderman pleaded guilty on October 12 to conspiracy to commit securities fraud.
- **2022-12** — The liquidating trustee announced cumulative recovery of 46.5% as of December 22, following a $6.9 million interim distribution; this is a dated milestone, not a final recovery rate.

## Links

- Website: https://1stglobalcapital.com/
- LinkedIn: https://www.linkedin.com/in/1st-global-capital-2833b8130
- Facebook: https://www.facebook.com/1stglobalcapital

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Profile page: https://yespress.io/1st-global
Published by YesPress — https://yespress.io
Last updated: 2026-10-25