FRP’s Forensic Services team was instructed to investigate allegations of bribery, corruption, money laundering and fraud on behalf of a nation state. The case involved a high-net-worth individual and his associates, including politically exposed persons across the Middle East.
The individual was subject to an investigation by the United States Department of Justice (DOJ) and Federal Bureau of Investigation (FBI). He and his associates were involved in a number of high-value transactions, including with the state, which was concerned that the value of its investments had been dissipated.
The client provided a large volume of disordered, incomplete documentation including emails, financial statements, loan agreements, invoices, wire transfers and bank statements of key individuals and entities. We developed keyword searches to identify the most relevant documents to review.
We performed a funds tracing exercise to understand the extent of transfers to related parties and between individual and business bank accounts, and how cash invested by the state was used. In particular, we identified a number of money transfers with no apparent business purpose. In reviewing the emails and financial statements, we also identified unusual financial statement balances and potential false invoicing.
Our Forensic Services team prepared summaries of key transactions, payments and related parties in the form of reports, tables and diagrams to assist the legal team’s understanding of complex financial issues. We suggested further potential areas for investigation, based on unusual accounting practices and bank transactions identified in our initial findings.
Our reports and supporting documentation were provided by the law firm to the DOJ and FBI.
Our reports and supporting documentation were provided by the law firm to the DOJ and FBI.Chris Osborne Forensic Services