Financial Investigation Projects

FBK does not disclose the names of clients for confidentiality reasons

Information Support for Business

A business unit published a newspaper using money allocated by the parent company. The parent company obtained information about the unauthorized use of the money, but the manager of the business unit increased circulation and produced supporting documentation.

The parent company initiated an investigation. FBK’s experts obtained samples of the printed product and examined the paper, printed materials and the printing technology used. In the course of their investigation, FBK’s experts ascertained that the market value of these resources was at least half as much as the figures given in the supporting documentation. Moreover, it was the business unit manager who had provided the information on the financing required for the newspaper release. FBK also established that the owner of the company contracted to publish the printed material was a relative of the business unit’s manager. Our experts thus proved that costs had been overstated and a financial surplus misappropriated by the business unit’s executives.

Investigations into Bill Fraud

During a bankruptcy procedure, a creditor (an affiliate of the indebted management company) put in a claim arising from a contract for a bill of sale. The creditor produced the contract and the transfer act against which the securities had been transferred - a blank endorsement. The bills in question had been sold with a large grace period.

The receiver asked FBK to carry out an investigation, during which our experts ascertained that bills matching the details specified in the contract had actually been issued by a large bank and been redeemed. Having traced the chain of the bill holders, our experts established that the bills had never belonged to the creditor and that their sale was a fictitious transaction concluded with the sole aim to make imitative indebtedness and initiate forced bankruptcy.

The creditor made a claim against the company based on the bill under which the creditor demanded an amount equal to the value of all the company’s assets. Had the claim been upheld, the business would have been transferred to another person. In court, FBK’s experts succeeded in justifying the need for an authentic identification of the bills, which proved that the main bill details (stamp, signature) were forged. The court therefore rejected the claim.

Investigations into Management Bad Faith

When inspecting shareholders began to suspect a construction company of the unauthorized use of allocated money, an investigation by FBK experts ascertained overstated work, double the volume of work and violation of the requirements fixed for construction works. The evidence gathered was sufficient to dismiss the responsible construction manager and initiate a criminal case against him.

For more information on Financial Investigations, please contact Alexander Sotov.

Financial Investigation Services

Complex Projects