Understanding Occupational Fraud
Every industry is vulnerable to fraud. From large corporations to medium and small-sized businesses, occupational fraud is everywhere. Companies devote significant resources to catching and preventing fraud, yet new methods of committing fraud are invented daily. Fraud costs businesses and consumers billions of dollars each year. Allegations of fraud often incur in breach of contract cases.
Common Types of Occupational Fraud
- Asset Misappropriation
- The most common type of fraud, this includes the manipulation of accounts or misusing of funds for personal gain. Asset misappropriation schemes include cash larceny, skimming, payroll, billing and check and payment tampering.
- Corruption typically is perpetrated to company management. Corruption schemes include collusion, bribery, extortion and illegal payments.
- Financial Statement Fraud
- Financial statement fraud cases involve the misrepresentation of profits, revenue, assets, or prediction of profitability. Victims include shareholders, creditors and investors.
Within all three of these occupational fraud types, there are many types of schemes which often go unnoticed until it’s too late. Many fraud cases often involve deliberately confusing reporting of financial transactions. It is important to hire a fraud expert witness to unravel and explain these complicated accounts and transactions.
Hiring a Certified Fraud Examiner and Expert Witness
By hiring a CPA expert witness and certified fraud examiner, your firm can rely on our decades of experience handling fraud cases in a broad array of industries. Thomas Neches & Company LLP reviews business records, financial statements and more to show a judge and jury meticulously-calculated amounts owed as result of the alleged fraud.
Learn more about our fraud-related representative engagements and trial testimony below.
Representative Fraud Engagements
|Side||Case Number||Case Name||Attorney||Law Firm||Testify|
|Pln||BC 021495||Danjaq, S.A. v. MGM/UA Communications Co.||Mark M. Rosenthal||Jeffer, Mangels, Butler & Marmaro||Depo|
|Def||BC 033169||Steven Adler v. Guns N’ Roses||Morton G. Rosen||Haight, Brown & Bonesteel||Depo / Trial|
|Def||119554||Let’s Scramble, Inc. v. Pandora International Entertainment Group, Inc.||Jack I. Samet||Baker & Hostetler||Depo|
|Pln||750511||Fightertown Entertainment, Inc. v. Robertson, Stephens & Company, et al.||John A. Sturgeon||White & Case||Depo / Trial|
|Pln||BC 168 439||The Los Angeles County Sanitation Districts v. AFS, Inc.||Nancy A. Ramirez||Musick, Peeler & Garrett||Depo|
|Pln||72 145 00553 98||Fidelity Commercial Enterprises v. Managed Resources, Inc.||Perry L. Hirsch||Dapeer & Hirsch||Trial|
|Pln||BC 193558||PMC, Inc., et al., v. Paul Winkler, et al.||Sean Riley||Christensen, Miller, Fink, Jacobs, Glaser, Weil & Shapiro||Trial|
|Pln||BC184264||NEI Direct, Inc. v. First USA Bank, et al.||Arnold G. Regardie||Law Offices of Arnold G. Regardie||Depo / Trial|
|Pln||PC 027655||Ik Nam You v. Chong Yol Kim||Peter Y. Chang||Law Offices of David S. Kim & Associates||Trial|
|Pln||CV04-6340-JFW(SSx)||Go Motorboards, LLC v. EnerSys, Inc.||Michael A. Painter||Isaacman, Kaufman & Painter||Depo|
|Pln||BC 274623||Dante Valve Corporation, et al. v. Bank of America Corporation, et al.||Joseph G. McGuinness||McGuinness & Associates||Depo|
|Pln||1200037463||NationsFirst Lending, Inc. v. NovaStar Financial, Inc.||Cameron M. Jolly||Mixon, Valk & Jolly||Depo / Trial|
|Pln||RCV 086636||Robert Yang, M.D. and Claudia Kano v. Robert Camarena, et al.||Troy Aykan||Law Offices of Troy Aykan||Trial|
|Pln||C05-03295 WHA||Nancy Lendall v. Chase Manhattan Mortgage Corporation||Laura Lynn Davidson||Law Offices of Jeffrey L. Davidson||Depo|
|Pln||BC361111||Housing Authority of the City of Los Angeles v. Lucille A. Loyce, et al.||Charles E. Slyngstad||Morris, Polich & Purdy||Depo / Trial|
|Def||BC 343 303||R.H. III Preferred Tool & Die, Inc. v. Milutin Babic||D. Joshua Staub||Law Office of D. Joshua Staub||Depo / Trial|
|Pln||BC 354412||Jim Shai Kolodaro v. Katherin Maghen, et al.||Robert J. Sherman||RJSLaw||Trial|
|Pln||2-06 CV 02800 ODW-CT||Samica Enterprises, LLC, et al. v. Mail Boxes Etc. USA, Inc., et al.||Robert S. Boulter||Lagarias & Boulter||Depo|
|Def||YC053574||Gordon Family Trust, et al, v. James J. Regan, et al.||Scott E. Shapiro||Law Offices of Scott E. Shapiro||Depo|
|Def||72 517 00904 13 TNM||Victor Perez Leon v. Vicente Del Rio||Jeffrey G. Huron||Dykema Gossett LLP||Trial|
|Def||BC430809||Sylvester Stewart and Ken Roberts v. Gerald Goldstein, et al.||Gregory Bodell||Kozberg & Bodell LLP Attorneys||Depo / Trial|
|Def||50 148 T 00323 13||Innovation Advisory Group, Inc. v. National Pacific Corporation, et al.||David L. Cousineau||Capello & Noël LLP||Depo / Trial|
|Pln||BC532950, BC529916||Donna L. Kaplan v. Jeffrey A. Kaplan, et al.||Luan K. Phan||PB Law Group, LLP||Depo / Trial|
|Pln||BC630989||Art & Coin Television, LLC , et al. v. Gregory Thomas, et al.||Jeffrey G. Huron||Dykema Gossett LLP||Depo|
Key Sample Representative Fraud Engagement
Housing Authority of the City of Los Angeles v. Lucille A. Loyce, et al. (Charles E. Slyngstad – Morris, Polich & Purdy). Mr. Neches testified as an expert in California Superior Court, Los Angeles County, on behalf of the Housing Authority in this misappropriation of assets matter. The Housing Authority, a public agency that provides affordable housing to over 113,000 residents in Los Angeles, accused defendants, who had been the Director and Assistant Director of the Authority, of wrongfully steering to an accomplice, under the guise of bogus “consulting” work, federal funds designated to help residents. Mr. Neches testified regarding his analysis of payments to the accomplice, which totaled over $1,200,000 during the years 2000 – 2004. Result: the jury ordered defendants to repay the Housing Authority $528,000.
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Thomas Neches Appears on ‘Getting Schooled’ Podcast w/Abby Hornacek
What is a Ponzi scheme? Who do they affect and how do they happen? Thomas sits down with Abby Hornacek to discuss these questions and more following the recent death of one of the most infamous Ponzi schemers of all time, Bernie Madoff. Madoff’s name roared into the headlines in 2008 when he was arrested for conning 65 billion dollars out of as many as 37 thousand people. (more…)
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