Saturday, November 5, 2011

C-Tran Financial Analysis with Rebuttals

You will find here, in chronological order...all of my analysis related to C-Tran, their responses, as well as responses from public officials. If you have any questions or concerns, please contact me at 360.573.5158 or

Here is my original C-Tran Financial Analysis:

Here is C-Tran's Rebuttal:

Here is My Response to the Rebuttal:

Here are the Emails from and to Marc Boldt:

Here is Email #1 from Steve Stuart:

Here is my Response #1 to Steve Stuart:

Here is Email #2 from Steve Stuart:

Here is my One Line Reply back to Steve Stuart:

Sunday, October 2, 2011

Fraud Article of the Day - October 2, 2011

We've been busy fighting fraud the last several months!! Here's an update to a previous article involving a former bank manager in Tiffany's former hometown of Tulare, CA:

Four years in prison for fraud - was it worth it?

Friday, February 18, 2011

Financial Statement Fraud - Not Just Wall Street's Problem!

I wrote an article about financial statement fraud in today's Vancouver Busienss Journal. Financial statement fraud is not just Wall Street's Problem! Click on the blog title to read more!

Wednesday, February 16, 2011

Fraud Article of the Day - February 16, 2011

Maysville man sentenced to prison in bank fraud case

Check kiting is a crime. Oklahoma man senteced to over 4 years in prison for check kiting (unauthorized use of the bank's money to inflate balances in related accounts).

Friday, February 11, 2011

Fraud Article of the Day - February 10, 2011

SEC charges ex-IndyMac executives with fraud

Financial Statement Fraud is a real problem - on Main Street and Wall Street. This is an example of why losses related to financial statement fraud can be devastating.

Tuesday, February 8, 2011

Monday, February 7, 2011

Fraud Article of the Day - February 7, 2011

New York Mets' Owners sued over Madoff Fraud Profits.

Was the team financed from fictitious profits "gained" from the Madoff scheme?

Friday, February 4, 2011

Do I Need a Forensic Accountant?

Here are examples of when you may need a forensic accountant:
  • Attorneys:
    - Fraud at Client's Company
    - Financial Investigations Involving:
    * Estate and Trust Disputes
    * Minority Shareholder Disputes
    * Divorce Proceedings
    - Contract Disagreements
    - Bankruptcy
    - Business Interruption
    - Onsite CLE Programs

We will identify the key documents you need for your case, analyze financial records, assist you in identifying potential claims, and provide expert witness testimony.

  • CPAs (and Financial Professionals):
    - Client's Financial Records are a Mess
    - Fraud at Client's Company
    - Client needs Internal Control/Business Process Review
    - Onsite CPE Programs

Our role is to work with you and your clients to ensure timely and accurate delivery of financial data; consult on internal control issues; or to investigate instances of fraud, waste or abuse.

  • Business Owners:
    - Fraud at my company
    - Accounting records are a mess
    - Policies and procedures need updating
    - Internal control assessments
    - I have a "feeling" that something "isn't quite right."

If you find fraud in your company, we will identify the extent of loss, file an insurance claim and assist you and your attorney with the civil and criminal process.

We can help you with business efficiency and fraud deterrence by assessing your internal controls, and working with you to ensure your policies, procedures, and business processes are up to date.

Anti-Fraud Resolutions

I know, I know. You don't need any more New Year's resolutions, right?

That's what my latest client thought. I'll call him TJ. He hired the "perfect" bookkeeper to mind his accounts. She had a "great" background, she was personable, and she was accountable (i.e. she came to work on time everyday!).

She was also an experienced fraudster.

The first month she worked for him, she deftly pocketed $500. By the fourth month of employment, she was on the take for over $5,000.

The fraud investigation piece of my practice is growing steadily. The majority of these frauds could have been immediately detected by any number of the following Internal Control Best Practices.

Implement them in 2011.

You won't be sorry.

The majority of all frauds are cash schemes that can be found by a thorough review of the bank statements AND cancelled checks.

Even if resources are limited, this can be accomplished.

The client mentioned above? A simple google search would have detected anomalies in the candidate's resume. A background check would have uncovered a non-existent college degree AND a criminal history COST? $79

Perception is key. Ask questions, ask for documents. If your employees know you are double checking, they are less likely to steal from you.

Reminder to my CPA friends: are you talking to your business-owner clients about these simple, yet effective anti-fraud steps during annual tax appointments?