Financial Investigative
Services specializes in the detection and
deterrence of corporate and organization internal and external fraud
schemes. These schemes have been classified as asset misappropriation,
fraudulent statements and corruption. Our specialists consist of seasoned
Certified Fraud Examiners, Certified Public Accountants, Forensic Computer
Science professionals and Forensic Accountants.
We have
investigated a variety of the schemes as classified above. In our
investigations we have worked jointly with investigation units, internal
audit and law enforcement agencies, as well as, on our own. The following
are a few case capsules:
Economic Extortion
A corporate director extorted thousands of dollars
from a service provider to renew a lucrative contract. Working with corporate
investigations, Financial Investigative
Services
analyzed travel and expense reports of the director identifying new leads
in the investigation, developing a personal travel profile, and comparing
expenses of the service provider's sales representative to the director.
The analysis also identified false expenses submitted by the director
and led to a major break in the case.
Bribery
Director of operations of a manufacturing facility
received hundreds of thousands of dollars in a bribery scheme involving
numerous company vendors. The director maintained a false company that
invoiced the vendors for services that were never performed. Working with
the company’s internal auditors, law enforcement and corporate counsel,
Financial Investigative Services
analyzed the director's company and personal bank accounts constructing
the proof required for the director's indictment.
Cash Misappropriation
Chief executive officer of a professional service
firm and spouse embezzled over a million dollars in false disbursements.
The CEO submitted false expense reports and disbursement requests that
were used to pay family personal expenses. Thousands of documents were
examined and analyzed by Financial Investigative Services.
Using a database application developed for the case, Financial Investigative
Services provided the evidence
needed to obtain the CEO's guilty plea.
Substitution of Materials Scheme
Manufacturer's vendor substituted materials resulting
in hundreds of thousands of dollars of overcharges for the materials provided.
Manufacturer's purchase orders specified source of materials to be shipped
by the vendor. Instead materials shipped were from a lesser quality source
resulting in the overpayment by our client. Financial Investigative
Services
analyzed thousands of invoices and receiving records electronically identifying
the substituted materials within hours. Using the manufacturer's "right
to audit" clause, Financial Investigative Services
confirmed the earlier findings and negotiated a settlement of the overcharges
in excess of $310,000.
Vendor Return Credit Scheme
Vendor took advantage of a control weakness in
a company's accounting system to withhold over $11.5 million in return
credits due the company. Working jointly with the company's investigation
unit, Financial Investigative
Services
identified the records needed to prove the withheld credits. Upon demand
of the records, the vendor cooperated with the investigation and refunded
the company's money.
Many of our investigative techniques center on our
grasp of technology. Over the years, we have gained a national reputation
in using creative techniques that result in the successful conclusion
of our client's cases. Technology allows us to develop specific database
applications that analyze thousands of documents in our investigations.
Use of client electronic data and custom applications often significantly
reduce the time spent in the investigation.
Financial Investigative
Services
can help your organization recover from the fraudster too. Our investigators
are experienced in locating hidden assets. Should your investigation result
in litigation our specialists have qualified as expert witnesses in federal,
state and local court.
