Internal Investigations

Internal Investigations

GFAS is regularly retained to perform internal investigations of potentially fraudulent activity by outside and inhouse counsel, internal audit, security and others.  Our investigations have included large publicly traded corporations, governmental agencies and municipalities, privately held companies, school districts and the like.  Our investigations have uncovered:

Bribery | Kickbacks | Payoffs

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.

Regulatory Investigations

Data Mining & Forensic Computer Examination

Expert Forensic Accounting Services

Chicago | Las Vegas

FORENSIC ACCOUNTING
SERVICES

Insurance Claims
Accounting Investigations
Mergers & Acquisitions
Due Diligence Reviews
Dispute Advisory Services
Special Examinations

LITIGATION SERVICES

Expert Witness Testimony
Commercial Damages
Shareholder/Partner Disputes
Bankruptcy and Insolvency
CPA Malpractice Claims
Contract Disputes
Estate and Trust Disputes
Data Mining & Electronic Discovery

INDIVIDUAL & CORPORATE
TAX ACCOUNTING

Individual, Trust, and Estate
S-Corp & C-Corp, Partnership
Year-end Tax Planning
and Estimated Tax
Taxation of Executive Compensation
Reasonable Compensation Estimates
Tax Disputes and Audits