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Medica, LLC

Fraud and Forensic Investigations

Contact Us (216) 357-2646

Dealing with suspicions of white-collar crime requires much more than simple know-how. It requires speed, sensitivity and discretion. It requires an in-depth knowledge of the legal and regulatory frameworks in each jurisdiction. We understand the importance of reacting quickly and confidentially to a crisis situation. We appreciate the need to stop illegal activity, safeguard your company's assets and reputation, prevent recurrences, and arrive at a resolution with as little disruption as possible. We provided the following services to our clients:

  • Conducted Foreign Corrupt Practices Act (FCPA) compliance assessment for a U.S. logistics company with operations in over 60 countries. Analyzed company's internal policies, procedures and processes related to FCPA and conducted assessments for over 70 agents. Analysis of related documentation, agent assessments, and interviews resulted in identifying a number of FCPA risks. Summarized findings and provided recommendations to address and mitigate risks.

  • Retained by excavation and trucking company to review various areas of concern related to misappropriation of company assets identified by management. Reviewed and analyzed various documents and conducted interviews in the following areas: selected real estate sales, lease arrangements, payroll and fringe benefits. Summarized and presented findings to the company's management.

  • Engaged as forensic accounting expert to investigate allegations involving conspiracy to hide assets from creditors in a bankruptcy proceeding. Work involved extensive review and analysis of complex transactional and financial records, and deposition testimony. Prepared and issued expert report in the Court of Common Pleas, Trumbull County, Ohio.

  • Engaged as arbitrator in matter involving claims of negligent supervision, recommending unsuitable investments, permitting inappropriate fund transfers and failing to adequately supervise securities broker. Claims against securities dealer and its registered representative also included breach of fiduciary duties by engaging in negligent, reckless and fraudulent conduct.

  • Investigated allegations of theft and misconduct of president at subsidiary location of induction heating equipment manufacturer. Reviewed and analyzed company records and conducted extensive interviews of employees and non-employees. Findings identified falsified expense reports, personal use of corporate plane, sham temporary employment agency and theft of scrap sale proceeds.

  • Performed detailed analysis of operations at a heavy equipment manufacturer to develop opportunities to reduce costs and increase cash flows in a corporate turnaround.

  • Retained by manufacturer of plumbing products to investigate missing inventory at company's facility in Mexico. Investigation revealed significant theft of inventory by select employees perpetrated by offering bribes to security guards at facility. Quantified lost inventory and developed process improvements to safeguard inventory from future losses.

  • Conducted extensive internal investigation of accounting irregularities at publicly-traded retailer of rental merchandise on behalf of legal counsel for the board of directors and audit committee. Investigation involved extensive interviews and analysis of data which uncovered wide-scale fraud perpetrated by employees.

  • Conducted investigation at automotive supplier which commenced as a result of an SEC subpoena for documents related to vendor rebates. Engaged by outside legal counsel to the Audit Committee of the Board of Directors to investigate vendor rebates and the impact on revenue recognition. Investigation uncovered additional issues including warranty charges disguised as OPEB expense, multiple fraudulent inventory sales which resulted in repurchases, and undisclosed factoring of accounts receivables. Work involved detailed forensic analysis of general ledger accounts, investigative interviews, review and documentation of contract management and financial reporting processes, and project management and overall oversight. As a result of the findings, the FBI and Department of Justice also commenced investigations. Met and discussed findings with the FBI and SEC.

  • Retained by management to assist in an internal investigation into various irregularities. Conducted in-depth interviews of selected personnel. Performed review of emails and user files identifying any suspicious information. Summarized and presented findings to the company's management.

  • Engaged by food and beverage company to perform forensic accounting investigation into un-reconciled account balances, and inconsistent and suspect supporting documentation. Interviewed accounting and finance personnel, and examined various source documents.

  • Reviewed and analyzed financial information including historical financial statements, operating cash requirements and unsecured debt financing ability. Determined potential amount of funds available for settlement purposes in class action lawsuit including available cash on hand and company's borrowing capacity.

  • Engaged by majority shareholders of high-end salon to investigate allegations of theft of corporate assets and self-dealings by minority shareholder.

Get In Touch

Phone

(216) 357-2646

Email

info@medicacpa.com

Fax

(216) 357-2697