Forensic Accounting

Regional Bank

Forensic Accounting

The Situation

  • Regional bank noticed a precipitous decline in borrower financial condition over 5 quarters
  • Members of borrower’s management team formed a new entity and offered to buy assets from borrower/bank
  • Bank hired Lucrum to investigate borrower financial records for fraud, deception or malfeasance

The Solution

  • Analyzed all available information and provided bank with a list of questions for borrower
  • Participated in discussions with borrower and bank representatives

The Results

  • Documented findings in a memo to bank management listing areas for further investigation as well as missed opportunities by bank to prevent the situation
  • Saved bank two days of analysis
  • Bank later resold assets at a substantial increase to the price originally offered.

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