Case Studies
J.S. Held Acquires Clark Seif Clark, Strengthening West Coast Capabilities for Environmental Claims, Disputes, and Catastrophe Response
Read MoreJ.S. Held was retained by counsel on behalf of a group of investors to analyze the books and records related to an alleged investment scam. The plaintiffs purchased shares of a newly formed technology (“Company”) totaling over $20M in initial investments. The Company’s corporate accounting and check-writing authority was managed solely by the CEO. Approximately ten years after the Company was formed, a Company officer discovered certain financial irregularities.
J.S. Held conducted informational gathering interviews of Company officers and analyzed over ten thousand bank transactions reported on the Company’s General Ledgers for a period of approximately ten years (“Relevant Period”). Our analysis included verifying cash deposits, withdrawals, and transfers to and from various bank accounts against bank statements and other third-party documentation provided. Our analysis identified hundreds of erroneous General Ledger entries used to disguise certain transaction activities. We prepared a schedule listing the sources and uses of cash during the Relevant Period. The sources of the cash schedule showed the investor’s net investment details during the Relevant Period, while the uses of the cash schedule revealed over $7M in questionable transactions. These transactions included exorbitant payments to consultants, businesses, individuals, and personal expenses unrelated to the Company’s business purpose. J.S. Held testified in court at a hearing to assess damages, resulting in the plaintiff being awarded damages against the defendant.
L. Erik Ringoen
Senior Vice President
Economic Damages & Valuations Practice
+1 856 433 6059
[email protected]
> Fraud & Investigations
We deliver strategic guidance regarding investigations of fraud and misconduct, corruption, accounting irregularities, regulatory inquiries, and whistleblower allegations. As a market leader in dispute and investigative consulting, J.S. Held advises clients on a wide range of contentious situations including litigation and arbitration, fraud and corruption, asset tracing, and enforcement.
> Economic Damages & Valuations
We combine financial expertise with industry and market knowledge to quantify economic impact and determine the value of tangible and intangible assets. Our economic damages experts evaluate, quantify, and testify in matters involving breach of contract, business interruption/lost profits, commercial litigation, family law disputes, fraud, insurance claims & subrogation, intellectual property, labor/employment disputes, personal injury, and wrongful death/medical malpractice.