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Bankruptcy and Fraud
The Bankruptcy Trustee for a custom van conversion firm engaged Decosimo
Forensic Accounting to evaluate issues involving the capital structure and
operations of the company to provide testimony in the recovery of assets.
Decosimo Forensic Accounting's evaluation resulted in the bankruptcy estate
recovering a significant amount of cash in a settlement from the
corporation's shareholders to assist in the payment of creditor's claims.
The shareholders' fraudulent activities would have been exposed if the case
had been litigated.
Fraud Investigation
Plaintiff counsel for a cash advance firm hired Decosimo Forensic Accounting
to uncover the misappropriation of cash through a variety of schemes. The
investigation revealed that the bookkeeper for the entity had committed
numerous acts of fraud, and credible testimony was developed to provide
proof of the defalcations.
Fraud Investigation
Deccosimo Forensic Accounting assisted the buyer of a closely held business
to renegotiate and reduce the purchase price of the business due to
uncovering material liabilities that were not disclosed by the seller at the
transaction's closing. The company's accounting records did not record the
liabilities, making the seller's financial statement's fraudulently
prepared.
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