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Corporate Investigative Services

Tuesday, 08 January 2019

Risk Report -- January 2019

Written by The Rehmann Team

Identity thieves target small business | A recent IRS bulletin warns small businesses to be on-guard against a growing wave of identity theft and W-2 scams. IRS bulletin IR-2019-243 warns, “Businesses may have their identities stolen and their sensitive information used to open credit card accounts or used to file fraudulent tax returns for bogus refunds. Employers also hold sensitive tax data on employees, such as Form W-2 data, which also is highly valued by identity thieves.” The IRS has already noted an increase in the number of fraudulent Forms 1120, 1120S and 1041 as well as Schedules K-1...

Tuesday, 20 November 2018

Notes from a fraud investigation

Written by Bill Kowalski, JD

Bill Kowalski, director of Rehmann’s Corporate Investigative Services division and former FBI special agent, investigates fraud and embezzlement cases for private and governmental clients. 4.20.18 – 3:20 p...

Thursday, 11 October 2018

Risk Report -- October 2018

Written by The Rehmann Team

Claim denied - Jury says fire claim was fraud When Rehmann Corporate Investigative Services (CIS) origin and cause fire investigators were called to a Flint, Michigan house fire in April 2016, one thing was certain: No one had broken into the house to set the fire. The house was so secure, firefighters had had to force open the entry doors to extinguish it. But determining exactly how the fire occurred was a complex process, involving origin and cause investigators and intelligence experts. The result of the investigation was worth it – the insurer did not have to pay the thousands of dollars asked for...

Monday, 17 September 2018

Risk Report -- September 2018

Written by The Rehmann Team

Back to school tips on protecting your child’s personal identifying information | Schools require mountains of paperwork and sensitive personal identifying information (PII) about your children. Is that data safe? The Federal Trade Commission shares a few tips on keeping sensitive information out of the hands of hackers and fraudsters: Safeguard your child’s Social Security number (SSN). Do not carry your child’s Social Security card with you or share it unless you know and trust the other party...

Wednesday, 11 July 2018

Risk Report -- July 2018

Written by Bill Kowalski

Locals fuel gambling habits with embezzlement Macomb Township, Michigan: A former Dakota High School Spanish teacher pled no contest to embezzlement and has been ordered to repay $30,000 to the Chippewa Valley School District for stealing from homecoming dance sales. The teacher was a student activity coordinator and oversaw ticket sales for the homecoming dance and other activities. The homecoming ticket sales should have brought in about $30,000, but she deposited only $11,000 into the school account. A school trip to Camp Tamarack should have brought in $13,000 in ticket sales, but she deposited only about $500...

Tuesday, 10 July 2018

Security best practice

Written by Trivalent Group

Password security Your computer password is your best defense against damaging intrusions. Without a well-chosen password or set of passwords, any other security measures protecting your data are greatly weakened. Never share your passwords with anyone. The most frequent password mistakes made include choosing an obvious password or writing down the password near your computer...

Thursday, 14 June 2018

Risk Report -- June 2018

Written by Bill Kowalski

Close to home Detroit, Michigan | A former City of Detroit employee who managed the garnishment orders of city employees’ salaries, also “garnished” the city for her own benefit. During her short tenure from April 2016 to November 2017, the 53-old audit and payroll department employee embezzled $265,000 of city funds. The employee literally set up garnishments from city funds in the names of her relatives and deposited the checks into bank accounts she held jointly with the relatives. The employee pled guilty to embezzlement charges and faces up to 10 years in prison and a fine of $250,000 when she is sentenced August 15...

Tuesday, 29 May 2018

The C-suite and the background

Written by Bill Kowalski

What would you do if your finance director embezzled $280,000 from your company? Could you afford the loss?  Would your first reaction be, “I had an outside audit conducted — how could this happen?” Unfortunately, auditors are usually not tasked with detailed forensic analysis, and fraudsters are often adept at manipulating audit information...

Wednesday, 09 May 2018

Risk Report -- May 2018

Written by Bill Kowalski

ACFE 2018 fraud report: Small businesses taking the hit | Is it surprising that when small businesses suffer a fraud, they lose twice as much as larger businesses? In its 2018 Global Study on Occupational Fraud and Abuse, the Association for Certified Fraud Examiners (ACFE) reports businesses with 100 or fewer employees suffer median losses per fraud incident of $200,000, whereas larger businesses (100 or more employees) suffer median losses per incident of $100,000. Half of the cases studied for the report were the result of internal control weaknesses, which explains some of the big business/small business disparity. Small businesses often lack the resources to implement oversight, dual controls and other fraud prevention strategies...

Monday, 09 April 2018

Risk Report -- April 2018

Written by Bill Kowalski

Fraudulent documents back $3 million in loans | A Connecticut resident used falsified information to obtain $3 million in loans, lines of credit, lease financing and state grants for a purported pita bread baking business. To improve his appearance of creditworthiness, he tampered with asset and income statements, created false invoices to document past equipment purchases that were never made, and developed websites and marketing materials for vendors that never existed. A judge issued a five-year prison sentence and ordered the fraudster to pay $3,746,603 in restitution.  A comprehensive due diligence investigation can uncover fraudulent loan application schemes  CFO logs $800,000 in fraud | A former chief financial officer for a West Virginia lumber company supplemented his salary with a fraudulent invoicing scheme from 2007 to 2013...

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