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Major Embezzlement Case
Guidepost was retained by the law firm of a large foreign manufacturing firm with a sales/distribution subsidiary in the United States. The parent company questioned the accuracy of the subsidiary’s financial statements and as their suspicions grew, asked Guidepost to conduct covert research and forensic analysis. Several indications of fraud were discovered including a multi-million dollar off-the-books loan in the subsidiary’s name. The investigation became overt. Guidepost discovered that the subsidiary’s CEO had perpetrated several schemes, including numerous personal purchases on the company’s credit card and the financing of various personal businesses totaling millions of dollars. In addition, over $2.5 million in unrecorded checks payable to the CEO, falsified financial statements, phony expense reports and hidden bank accounts were found. Guidepost prepared a detailed package of the evidence gathered for submission to law enforcement authorities and for support of a proof-of-loss insurance claim, and a CPA malpractice claim.
SBC hotlineOakland County AARMAGELLAN Monitorship