P.S.I. Investigations llc
Professional Service Integrity
P.S.I Investigations Blog
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Neil uncovered fraud and hidden assets during my recent divorce proceedings, finding over $450,000.00 in hidden assets and accounts. Neil is an honest accomplished investigator with an excellent reputation.
B.B.
Whatcom County
"Hell Hath No Fury......?
The call came in on my trusty iPhone one cold November morning, only to find on the other end of line is a distraught middle aged male spinning a tale of deceit, missing money, stolen business, and bank fraud, with unexpected creditors foreclosing on his home and business equipment. You would be forgiven for wondering 'oh no, not another lunatic' as I surely did.
However with a little patience and some specific questions answered, I believe there actually may be something too this guys outlandish claims, so we arrange to meet.
The basic background history and information gathered during our meeting helped me to determine the following;
1. He was a successful construction contractor
2. He suffered a long term disability from falling from a roof on a jobsite
3. His wife was an assistant to a government representative
4. There were unexplained missing funds and business from his company account
5. There were unexplained missing funds from the family Trust account
6. His wife had just filed and served him with divorce papers
Finally we have something we can sink our teeth into.....
We conducted an investigation into, and interviews of, his children, his clients, his employees, and of his wife's associates (including bank staff and vacation neighbors)......
..... we were able to find and document the following;
i about a week after his injury (most vulnerable), his wife opened a second business account under the same business name, with herself as the only signatory and sole officer, and diverted over $3.2 million dollars of company deposits into the new business account over the following 5 year period (she relied on her personal relationship with bank manager to facilitate this)
ii his wife took out and rotated a total of 17 bank credit cards over the following 5 years to pay for and hide her lavish lifestyle, paying for them out of both business accounts and declaring them as corporate expenses with the federal tax agency
iii his wife transferred over $400 thousand dollars into the Trust account and then made disbursements to all three of her children's accounts (without their knowledge) which she had signatory access to, then transferred those funds to her personal account (undeclared)
iv his wife purchased a $550 thousand condominium in her own name, which she failed to disclose or declare, and a $400 thousand vacation home (in another state) in her brother's name
OUTCOME:
His ex-wife faced multiple charges of Embezzlement, Real Estate Fraud, Tax Fraud, Perjury, and was forced to sell the condominium and vacation home.
The bank was forced to fully reimburse the trust account (over $400 thousand) and several bank staff lost their jobs.
The client was able to rebuild his company, his life, and has recently re-married.
If only ALL case had such happy endings.......... stay tuned for more!
