More problems for Tucson’s First Magnus
August 21st, 2007No paychecks, but assistance promised for First Magnus workers
Company officials put together $1 million in aid but said their accounts are frozen.
By Christie Smythe
Arizona Daily Star
Tucson, Arizona Published: 08.21.2007
First Magnus Financial Corp. still is not sending out paychecks to its former employees.
But the Tucson-based mortgage lender announced it is creating an assistance fund of more than $1 million to ease the burden.
In a news release, the company said paychecks have been delayed because its accounts were frozen by investors that provided capital to First Magnus to make loans.
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