Case Study

Asset recovery following embezzlement scheme

Stroz Friedberg is a specialized risk management firm built to help clients solve the complex challenges prevalent in today’s digital, connected, and regulated business world

Asset recovery following embezzlement scheme

Stroz Friedberg was engaged to locate the assets purchased by the Director of Finance and Budget of a public company who had embezzled $15.5 million over three years from the company and from a church. During numerous field interviews and the analysis of bank and corporate records, Stroz Friedberg investigators learned that the Finance Director had previously been arrested several times for financial fraud and had served time in federal and state prisons, facts unknown to the company that hired him because it had failed to perform a background check.

The investigation further revealed that the suspect had made multiple large purchases with funds stolen from his employer, including a palatial $2 million estate in Massachusetts and two estates in Florida valued in excess of $3 million. Stroz Friedberg obtained documents and developed significant evidence that was used by the Assistant U.S. Attorney during court hearings, as a result of which the suspect was remanded into federal custody and subsequently pled guilty to 24 felony counts. The government seized the properties identified by Stroz Friedberg, including several high-end boats, cars, and other luxury items. Stroz Friedberg further provided the company with security recommendations regarding financial controls and background investigations of employees.

Professionals

Stroz Friedberg

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