Forensic Accounting
Regional Bank
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.
Recent Articles
5 Signs You’re Ready for a Fractional CFO
By Jeff Heybruck Thinking about hiring a fractional CFO, but not sure if the business is ready? While there’s no magic business …
Job Costing in Quickbooks: Setup Tips & Best Practices
by Jeff Heybruck Job costing, or the process of tracking the costs and expenses associated with a specific job, project or account, …
How To Run A Business In the Face of Rising Interest Rates
by Jeff Heybruck Beginning in 2008, financial crises drove down interest rates to just above 0%. Now, for the first time in …