project experience

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project experience

experience is built, one file at a time

Edward Nagel, Principal of Toronto Forensic Accountants’ nagel + associates, has extensive experience in fraud and forensic accounting matters, which includes the following representative cases:

 

forensic investigations

Investigated suspect transactions involving a large, offshore financial institution. Conducted international funds tracing and assisted in the execution of Civil Search warrants to seize assets and other relevant evidence.

Investigated allegations of misappropriated funds in connection with a fidelity bond claim relating to bridge financing.

Assisted counsel to draft and execute an Anton Piller Order, which revealed evidence substantiating misappropriated assets.

Retained by an insurer to conduct a financial motive review in connection with a property claim following a fire.

Conducted an investigation relating to allegations surrounding improper Ontario Health Insurance Plan billings, including quantification of the excess billings.

Retained by counsel to investigate suspect transactions involving senior management at a venture capital firm, which identified backdated contracts, corporation policy violations and misrepresented financial disclosure.

Assisted counsel on behalf of a public sector client to conduct a billing’s verification exercise in connection with a high-profile Class Action proceeding.

Conducted an investigation relating to suspicious procurement transactions involving a mining company.

Conducted a “shadow” investigation of another forensic accounting firm regarding allegations of improprieties involving senior management at a mining company located in South America.

Assisted counsel to investigate allegations of fraud relating to payments made in connection with the procurement process, including the execution of an Anton Piller Order (Civil Search Warrant).  Investigation revealed a multi-million dollar misappropriation of assets scheme perpetrated over several years.

Investigated a secret commission scheme involving senior management of company, which was substantiated through analysis of documentation and witness interviews.

Retained by counsel to the Special Committee of the Board to investigate related party transactions involving senior management.

Investigated allegations of payroll fraud in connection with a fidelity bond claim.  Procedures revealed fictitious employees and unauthorized overtime payments made through the payroll close to $1 million that remained undetected over several years.

Prepared a complex source-and-use of cash analysis in connection with a shareholder dispute, which revealed undisclosed income and assets. Investigated allegations of a secret commission scheme involving a third party external consultant colluding with a senior officer of the company.

Analyzed suspect transactions involving inventory misappropriation at a private computer parts supplier.  Investigation substantiated allegations through analysis of hard copy and electronic evidence, which facilitated recovery for the client.

Retained by management to investigate suspected misappropriation of funds by a senior employee.

Investigated allegations of fraudulent financial reporting involving the current and former Chief Executive Officers, including preparation of report for the Audit Committee.

Investigated allegations of misappropriation of funds in a real estate partnership involving suspected kickbacks between a partner and contractors perpetrated during the renovation of a building managed by the partnership.  Identified several fraudulent contracts and substantiated kickbacks received by certain of the partners.

Investigated allegations involving a government employee and certain suppliers of his employer.  Investigation revealed that employee had personal business interests with the supplier in violation of corporate policy and was terminated for cause.

Investigated suspect transactions involving a former employee relating to the purchase of IT equipment at a not-for-profit organization.  Investigation revealed a $25,000 misappropriation of assets scheme and forensic report was used to facilitate recovery through a fidelity policy.

Investigated allegations of misappropriation of assets at a religious, not-for-profit organization, which revealed a kiting scheme involving an accounting employee.

anti-fraud consulting

Assisted clients to develop anti-fraud policies in connection with Sarbanes-Oxley legislation.

Conducted an in-depth compliance and internal control review of a mutual fund company on behalf of a regulatory agency.

Conducted research and led “brainstorming” discussions for the external audit team to identify potential fraud risks at large, Fortune 500 telecom company.

Performed several fraud risk assessments in connection with requirements pursuant to Sarbanes-Oxley legislation and for non-filing organizations as proactive, anti-fraud initiatives.

Involved in monitoring the Los Angeles Police Department’s (LAPD) compliance with the Consent Decree, an agreement between the City of Los Angeles, LAPD, and the U.S. Department of Justice following the Rampart Inquiry.

Involved in monitoring the Detroit Police Department’s compliance with the Consent Judgment, an agreement between the City of Detroit, Detroit Police Department and the U.S. Department of Justice that was implemented to monitor reforms on the police department relating to policing practices & procedures and conditions of confinement.

Conducted an in-depth, proactive fraud risk assessment of the payroll process in order to identify potential vulnerabilities to fraud that were not mitigated by controls; provided recommendations for remediation of deficiencies identified.

Conducted an in-depth, proactive fraud risk assessment of the procurement/payment cycle in order to identify potential vulnerabilities to fraud that were not mitigated by controls; provided recommendations for remediation of deficiencies identified.

anti-fraud training

Developed and delivered a customized half-day training session for performing fraud risk assessments.

Developed and delivered a training course for the Federal government that included an introduction to the accounting cycles and forensic accounting.

Developed and delivered a customized training course that included an introduction to the accounting cycles, forensic accounting and fraud investigations for law enforcement.

Developed and delivered several customized presentations relating to fraud, forensic accounting, prevention/detection measures.

litigation support

Retained by counsel to calculate income for Child Support purposes, in accordance with the Federal Child Support Guidelines.  Mr. Nagel testified on this matter as an expert witness before the Ontario Superior Court of Justice., where he was recognized as an expert in self-employment income.

Retained by counsel to calculate income for spousal support purposes, in connection with a family law matter.  Performed a complex multi-year source-and-use of cash analysis that revealed several hundred thousand dollars of unreported income and undisclosed assets.

Prepared analysis as an independent accountant in connection with several purchase price disputes, which included the preparation of binding opinions that adjusted the agreed upon purchase prices as set out in the Purchase and Sale Agreements.

Quantified the losses arising from damage due to deficient construction.

Quantified losses arising from disruption to access to marina due to a landslide.

Retained by Counsel to perform an independent review and critique of a report prepared by a court appointed expert relating to joint venture real estate transactions.

Quantified losses arising from the expropriation of certain lands from a Canadian consumer business company as a result of the development of a major Ontario toll highway.