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.
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