Case Study: Fraud Investigation

Client

A Securities and Investment Banking Firm

Project

Financial Forensics

Executive Summary

A Securities and Investment Banking firm discovered irregularities in the way one of their senior associates was handling transactions. They had sighted the tip of an embezzlement iceberg and needed to determine the size and extent of the fraud. The ARISING Group located the illegal transactions, retraced the movement of stolen funds, and created flow charts that graphically illuminated the tangled web. The ARISING Group’s findings formed the core of the evidence used in litigation proceedings.

Business Challenge

The Client’s employee had set up a parallel database in order to play an elaborate shell game to cover his theft of customers’ investments. This criminal had gone to great lengths to hide his crime by using hidden files and sophisticated encryption. Proof of wrongdoing needed to be uncovered, missing money located, and solid irrefutable evidence was required for prosecution and insurance claims.

How ARISING Helped

The ARISING Group’s Financial Forensics Team developed a custom database to sort through literally millions of pages of documents, process the information and locate hundreds of millions of dollars worth of illegal transactions. The ARISING Group then created graphic illustrations of the money trail and the architecture of the fraudulent process. This evidence was used in Congressional hearings on corrupt business practices. On this project The ARISING Group worked closely with the litigation support team of a major accounting firm in New York.

ARISING provided

  • A cracking of the criminal’s encrypted hard drive
  • An accurate retracing of funds and client information across systems
  • Discrete handling of sensitive files and documents
  • Hard evidence to support the litigation team

Value Delivered

Some funds were recovered, system security weaknesses were discovered and repaired, and the guilty were prosecuted. Because of the work done by The ARISING Group, and proactive measures taken by the client, liabilities were minimized and a feared loss of customer confidence was avoided.

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