Forensic investigations × digital assets × restructuring. Managing Director. CFE | CIRA | CFCS | CCE
CT/NYC
Joined October 2011
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Forensic work evaluates intent in both directions. Not just the direction one side wants.
The evidence either supports the theory or it doesn't. That's the job.
1/ Over 140 companies have agreed to share the economics/governance of a stablecoin.
Visa. Mastercard. Stripe. BlackRock. Coinbase. Google. Ripple.
They’re not all issuers and not all will have mint authority, but they’re now aligned around a common governance/economic model.
9/ The next era of stablecoin investigations into consortium-governed tokens will require a completely different playbook.
It won’t be about tracing alone.
It will focus on:
→ Who had the authority to act?
→ Who had the data to know?
→ Who had the obligation to stop it?
Accounting adjustments near period close deserve scrutiny.
Manual journal entries in the final days of a period can be the most reliable indicator of financial statement fraud.
Revenue changes, expenses deferrals, reserve adjustments can all be clues.
#FridayFraudTip 111
Post-acquisition access is an overlooked problem.
During acquisitions and restructurings, "temporary" system access gets granted to advisors and transitional staff.
Make sure that former employees and others don't retain access longer than necessary.
#FridayFraudTip 110
Mandatory vacations find fraud.
Forcing key employees to take extended time off remains one of the best fraud detection tools available.
Schemes that require daily acts by the perpetrator collapse when that person is out of the building for 2 weeks.
#FridayFraudTip 109
Digital asset disputes are accelerating faster than most legal and financial professionals have frameworks to handle them.
I’m running the Crypto Bootcamp at the CT Digital Forum’s Digital FutureFest in Stamford, CT on June 4.
Three focused sessions:
• Digital Asset Fundamentals
• Institutional & Market Context
• Risk, Disputes & Enforcement
Insider fraud is starts small.
It rarely starts as a big dollar event but as a small unauthorized act that nobody catches. Then another.
When the cash shortfall becomes visible, the scheme has been running for years.
#FridayFraudTip 108
Vendor master files are the entry point.
Fraudsters don't steal. They redirect.
The vendor master file is the most common point of entry in disbursement fraud schemes.
Name change, account update, a new payee can route payments to the wrong destination.
#FridayFraudTip 107
Distressed companies and control failures.
In distressed companies, controls are the first thing that deteriorate. Less staff, weak reconciliations, lax approvals.
The conditions that make fraud possible expand at exactly the moment oversight contracts.
#FridayFraudTip 106