Fraud

Investigations

 

Fraud Investigations

Reagan FVL can help your company in two different ways…find the fraud and stop it or put preventive measures in place so it never happens.

Fraud can be defined in many ways, but regardless of the definition selected, fraud always contains these four elements:

“Our company experienced an embezzlement in one of our departments. Mr. Reagan was retained to spearhead the investigation. Consequently, Mr. Reagan uncovered a lapping scheme devised to steal cash that was so complicated that initially it appeared nearly impossible to unravel and organize our loss. Mr. Reagan painstakingly plotted, charted, and proved our loss to our insurance company. In three separate meetings, Mr. Reagan proved exceptional organizational & verbal communication skills that provided proof of loss to a very fact seeking insurance adjuster. Mr. Reagan showed integrity during this investigation in that he was being employed by our company but never accepted any assumed loss until totally proven by fact.”

– Jim L., Business CEO
  • The misrepresentation of a material fact
  • The perpetrator knew the factual misrepresentation was false
  • The misrepresentation was made with the intent that it be relied upon by someone else
  • The victim (the party or parties relying upon the factual misrepresentation) did rely on it and, as a result, incurred a loss

It seems that fraud is everywhere. Of more importance, there are no small frauds; each instance is extremely costly. The 2014 Report to the Nation on Occupational Fraud & Abuse by the Association of Certified Fraud Examiners (ACFE) states that fraud in the United States is a $3.7 trillion industry with U. S. businesses losing an estimated 5% of annual revenues to fraud and abuse. This report is updated every two years and the trends are mostly discouraging. Report to the Nation

It is often difficult to decide whether to pursue a criminal or civil action for an alleged fraudulent act. If both avenues are being considered, be sure to consult with competent legal counsel before initiating any action. “First things” must be done first, or the consequences can be even more detrimental.

Experience has taught us that fraud occurs with the collision of three things. The “Fraud Triangle,” as this collision is known, illustrates three factors that are present in every instance of financial fraud and abuse: 1) an un-shareable need, 2) rationalization, and 3) opportunity. People’s needs vary as does one’s ability to rationalize wrong as being right, and neither can be controlled. However, opportunity can and should be controlled through designing, implementing and monitoring effective policies and procedures to prevent and/or timely detect fraud and abuse.

If fraud has taken you by surprise, you are not alone. And while being in good (or not so good) company is no comfort at all, it is just a sign of the times. Our experience in investigating fraud, assisting legal advisors, and joining forces with police and prosecutors has equipped us to help you. We are members of the Association of Certified Fraud Examiners and our staff include Certified Fraud Examiners and professionals certified in Financial Forensics who possess the necessary training and experience to uncover the scheme, demonstrate it, and prove it.

If you think you may the victim of fraud, call Reagan FVL. Let us help you investigate the matter, quantify your loses, develop a strategy in concert with your legal counsel to recoup all misappropriated funds that are available, develop a strategy for survival, and implement corrective measures to prevent recurrence. Let us help you put into place systems and procedures that will protect your business.

Our Fraud Investigation Services Include:

“Greg has a rare and unique ability to plan, execute and deliver on audit and forensic work on a timely basis, and has a long history working with my firm to attest to the same. He has an excellent business acumen that exceeds most of those engaged in this profession. Greg is punctual, reliable, honest, dedicated, loyal and trustworthy and has an excellent personality to deal with a wide range of the public”

– C. E., CPA
  • Fraud Investigations
  • Asset Misappropriation
  • Financial Statement Fraud
  • Corruption
  • Embezzlement
  • White Collar Crime
  • Money Laundering
  • Ponzi Schemes
  • Insurance Claims Fraud

 

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