Examples of Cases

Fraud

1. The controller of a construction company set up shell companies in order to embezzle money. He was able to convince the staff that the shell companies were joint ventures with the owner. Funds were misappropriated by the controller and later redirected back into the construction company in order to keep the house of cards from tumbling down. We were hired to evaluate and quantify the losses sustained by the construction company.
2. An office manager of various medical offices misappropriated company funds for personal use. A lack of segregation of duties and controls allowed credit card abuse, unauthorized bonuses and salary increases to occur. The office manager also wrote unauthorized checks to his spouse and other family members. Our investigation revealed total dollars misappropriated and recommendations for improving internal controls.
3. A luxury homebuilder was charged with bank fraud, money laundering and tax conspiracy. We were hired to review the accounting records, tax returns and explain various accounting transactions.

Marital Dissolution / Divorce

1. Husband and wife were going through a contested divorce. The husband owned a small business in which his wife helped with the bookkeeping. The husband claimed the business didn't make enough money for him to pay spousal support. We reviewed and analyzed the business bank statements to determine the husband's economic income, which included his wages along with personal expenses that were paid directly out of the business bank account.
2. A spouse had accumulated some retirement assets prior to the marriage in 2005. We traced the separate property portion through several retirement accounts to determine the amount of separate property at the time of the divorce. The parties stipulated to the separate property portion, out of court!
3. During a dissolution, husband and wife hired us to serve as a neutral financial expert. The parties needed our expertise to value the three businesses and prepare the marital balance sheet. The parties were able to reach a full agreement.
4. A husband was being taken back to court for a spousal support modification. We analyzed his self-employment income, which had actual been reduced by his partnership, his unreimbursed partner expense detail and prepared after-tax cash and support analyses. The parties executed an Agreed Judgement Entry resolving the case.

Collaborative Divorce

1. A husband and wife were divorcing using the collaborative law process. Ms. Powers was retained as the financial neutral to prepare spousal support scenarios, value the retirement plans, and prepare the Statement of Assets, Liabilities and Net Worth.

Damages & Lost Profits

1. A car crashed through the front of a convenience store gas station. The convenience store owner filed a claim with his insurance carrier for the damaged inventory and the store's lost profits. We reviewed and analyzed records to determine the damaged inventory value and the lost business income.
2. A landlord entered into a property lease with a tenant, which required the tenant to give the landlord a first priority security interest and a lien in certain property and for ABC Company to sign as unconditional guarantor. The tenant later filed bankruptcy during which time the Landlord didn't receive first priority interest and lien in certain property. Then ABC Company sold certain assets to Company A. We considered and analyzed records to evaluate various criteria to determine if Company A was a successor company of ABC Company. Our report helped to settle this matter before trial.
3. A fire broke out in a building that housed a barbershop on the first floor and an apartment on the second floor. The building owner was also the owner of the barbershop. The building owner filed a claim with his insurance carrier for the lost value of the building, the lost profits from the barbershop and the lost profits from the apartment. We reviewed and analyzed records to determine the loss from the barbershop and apartment.
4. A business entity operated nursing home facilities and claimed damages and lost profits as a result of construction delays and deficiencies against architects of various projects. We reviewed and analyzed financial information and evaluated the damages of lost profits, by project.
5. Water damage occurred on a rental property that was occupied by a medical office. The medical office filed an insurance claim with their insurance carrier. The business owner provided their own calculation of damages for reimbursement from the insurance carrier. We reviewed and analyzed the insurance policy and compared the terms of the policy with the business owner's calculation. We corrected and thoroughly explained the miscalculations.

Partnership Dispute

1. There were four owners in a transportation company. The owners decided to sell the company. Once the proceeds were divided, two of the owners claimed they were owed additional funds. We analyzed the capital accounts of all the owners and calculated the additional funds owed as a result of the sale of the company.
2. A family dispute between a father and son arose related to rental properties in which they both claimed a vested interest. We analyzed records and prepared income schedules based upon ownership interests. Then we determined the ownership interest in order for the properties to be divided appropriately.

Estate / Probate Matters

1. Mom is diagnosed as legally blind due to macular degeneration. When her spouse passes away, her Stepson has her move in with him and his family. Due to Mom's sight impairment, Stepson becomes Mom's Power of Attorney. It isn't long before Stepson starts using Mom's accounts for his personal expenses without permission. Our report and schedules, which outlined our investigation and the funds misappropriated by Stepson, were used at mediation to reach a resolution.
2. The executor of an estate was suspected of concealing and diverting assets of the estate. Our investigation revealed that all assets had been properly accounted for and we met with the heirs to thoroughly explain the transactions and related detailed assets.

Receivership

1. A corporation ended up in Common Pleas Court with a receiver being appointed to wind down the business and determine the amounts due to the respective shareholders. We assisted the receiver with accounting services related to analyzing the accounting activity to ensure all income and expenses were accounted for, quantifying the funds misappropriated by Shareholder A, preparing taxes, testifying for the court, and closing out the corporation's tax accounts.