Forensic accounting case studies in London

Forensic Accounting Case Studies


A sample of case studies where NIFA London members have helped our clients include:

Fraud

  • Drafted a disclosure report for H M Revenue & Customs under the Civil Investigation of Fraud procedure, where an offshore trust structure had to be unwound. An unpaid tax settlement of £500,000 was reached against a demand of several million.

  • Tracing funds through an individual’s numerous bank accounts in order to respond to allegations that a duplicate payment had been received from a bank, we were able to prove that £400,000 had been legitimately transferred from another account by the defendant.

Ponzi Scheme

  • Acting as an expert for one of three defendants in a £39.4m Ponzi Scheme Fraud, we analysed the relevant transactions and prepared a report which provided the defendant’s counsel with the strengths and weaknesses of his client’s case, resulting in a verdict of not guilty on significant elements of the prosecution’s case.

Commercial Disputes

  • Investigated and reported on alleged misdeclaration of funds by a UK franchisee resulting in a settlement in excess of £100,000 for the US franchisor.

  • Acting as an expert advisor in calculating losses suffered by a company resulting from a breach of fidelity by a senior employee, we identified that an incorrect approach had been taken in quantifying the losses, increasing the claim from £1million to £3-4million.

Banking & Finance

  • Appointed as an expert on behalf of a Channel Islands Bank concerning allegations of incorrect operation of trust accounts. Facing a claim of £140,000 and counter-allegations, a settlement of £35,000 was achieved on behalf of our client.

Loss of Profits

  • Acting as an expert to quantify loss of profits arising as a result of the destruction of artwork and a photographic library resulting from a water pipe leak, a settlement of £2.7million was achieved on behalf of our clients, against the offer of £400,000 initially offered by the water company.

Loss of Earnings

  • Appointed as an expert to quantify the £250,000 loss of earnings suffered by a dentist as a result of a road traffic accident, we pointed out that part of the loss was sustained by his wife as trade was conducted via a limited company, enabling a far higher financial settlement to be achieved.

Consequential Loss Claims

  • Prepared calculations of the consequential losses suffered by two property investors as a result of interest rate swap mis-selling by the lending bank, we identified an additional claim of £2.5million as a result of our investigative work.

Shareholder and Partnership Disputes

  • Appointed as an expert in a dispute against a former director and shareholder, we achieved a settlement of less than 50% of the amount claimed and, more significantly, costs were awarded against the Petitioner on a full indemnity basis.

  • Having been appointed in expert determination to provide a value to buy out a minority stake of an ousted shareholder-director, we saved our client £100,000 against the amounts claimed by the disgruntled shareholder.

  • Appointed as expert for the outgoing partner in a long standing dispute with his 2 former partners, our report into accounting deficiencies and the valuation of the partnership helped our client win an award at trial of 500% of the offer originally made by the defendants prior to commencement of legal proceedings.

Matrimonial Disputes

  • Appointed by an ex-wife in an action to vary her maintenance agreed several years previously, as a result of our accounting experience and investigative skills, we achieved a fourfold increase in her previous settlement.

  • Our appointment as Single Joint Expert to value the family company was accepted without question by both parties, leading to an immediate settlement and saving of court costs and time.

Contentious Probate

  • Appointed by a daughter to investigate misuse of a Power of Attorney by her sister and brother in law from her recently deceased mother, who had suffered from senile dementia, we traced funds through 49 different bank accounts and proved that in excess of £300,000 had been misused. Our report was exhibited to H M Revenue & Customs in establishing the probate value of the estate and also sent to SOCA.

Personal Injury

  • Appointed by a local authority in case involving a workplace injury to an employee, we calculated loss of earnings and associated pension rights and engaged in discussions with the expert acting for the employee, enabling a sensible settlement to be reached between the parties.

 

Quick Query