In recent years there has been an increase in both the value and complexity of reported fraud.
The Forensic Accounting team at Vantis is able to assist both in investigating fraud and working with the Defence team in criminal proceedings.
Fraud Investigations
Where there are suspicions that fraud may have been committed it is essential that investigations be undertaken in a timely, organised, confidential and cost effective manner to limit the impact of the fraud and to maximise the chance of recovering misappropriated assets.
We are experienced in investigating fraud and undertaking asset tracing exercises, both in the United Kingdom and overseas. The work we undertake encompasses both criminal prosecutions and civil recovery.
We are used to working in teams with solicitors, barristers and experts from other disciplines. We are also able to call upon specialist IT support from within Vantis in relation to data retrieval and investigation.
Where appropriate, we are able to utilise electronic data interrogation techniques to facilitate the analysis of large volumes of complex financial data. Through our membership of the HLB International network, we are also able to call upon the resources and expertise of 11,600 staff in over 100 countries.
Cases undertaken by the team include being:
- Instructed by the invoice discounting subsidiary of a major US quoted company to identify and quantify the losses incurred by a group of haulage and logistic companies in the largest invoice discounting fraud in the UK.
- Appointed by the Claimants in connection with a substantial fraud perpetrated by the senior executives upon a hotel and property development in the Caribbean.
- Instructed by a national charity to investigate and report on the accounting systems and controls at head office following the perpetration of a fraud by a senior member of the accounts department.
- Instructed by an overseas provider of funds to investigate a substantial mortgage fraud involving the use of fraudulently obtained funds to acquire businesses and properties. The assignment involved detailed analysis of solicitors’ client accounts and the tracing of assets thorough various onshore and offshore corporate entities.
Criminal Defence Work
The Forensic Accounting team at Vantis has extensive experience in assisting the Defence team where individuals or organisations have been charged with criminal or regulatory offences.
We are able to provide assistance in reviewing the calculations prepared by the Crown in cases where there are allegations of fraud and to ensure that the Crown’s case has been accurately presented and reflects the underlying financial documents and records. We are able to apply commerciality in our work and to assist the Court by presenting complex financial concepts and analyses in an easily comprehensible manner.
All members of the team have a detailed understanding of Part 33 of the new Criminal Procedure Rules.
There has been a substantial rise in the number of Confiscation Orders pursued by the Crown since the introduction of the Proceeds of Crime Act and we are experienced in working with Defence teams in examining the value of the benefit and realisable assets to Defendants.
We are aware of the difficulties associated with obtaining public funding and are happy to work with legal teams in establishing the work that can most efficiently be undertaken. Our approach to potential new instructions is review the key documents in the case and to provide a detailed fee quotation setting out the work that we propose to undertake, together with the expected number of hours and proposed cost.
Cases recently undertaken by the team include:
- Acting for one of the Defendants in proceedings brought by SOCA concerning an alleged conspiracy to defraud central clearing banks and other financial institutions. Our work involved examining and commenting on the Crown’s schedule of claimed fraudulent receipts
- Acting for a Defendant who had been arrested under the Proceeds of Crime Act after being found in possession of a large value of cash. We were able to demonstrate that the cash was in fact the proceeds of legitimate business and property dealings.
- Acting for one of the Defendants in an SFO prosecution for conspiracy to defraud in relation to a substantial retail group of companies.
- Acting for the Defendant in proceedings by HMRC under the Proceeds of Crime Act. The work involved investigating the Defendant’s cash inflows over the last six years to demonstrate legitimate earnings.
Contact
If you wish to know more or would like to discuss how the Forensic Accounting and Dispute Resolution team can assist you, please contact David Stern or Gavin Pearson