Prominent Retail Company Accused Of Diverting Subsidiary Funds


Forensic Accounting Expert

This case involves a plaintiff small business owner manufactured bathroom appliances with LED lights. The product became so popular that the small business owner could no longer keep up with the manufacturing on his own. The owner sold his business to a prominent domestic merchandise retailer and the business became a subsidiary of the large retailer. At the time of the sale, the plaintiff’s small business was bringing in roughly $5 million a year in sales. The plaintiff was promised royalties for 15 years and was projected to earn about $20,000 a month for the next 15 years. However, every year following the sale, the plaintiff’s earnings decreased. The defendants claimed that sales were declining. However, the plaintiff alleged that the defendants diverted money to themselves in order to avoid paying out the plaintiff.

Question(s) For Expert Witness

  • 1. Please briefly describe your experience as a forensic accountant on similar matters.
  • 2. Have you ever served as an expert witness for a similar matter?

Expert Witness Response E-126204

I have practiced in investigative and forensic accounting for three decades and have done investigations for many companies and individuals. I have served as an expert witness in cases involving shareholder disputes and allegations of deceit/diversion of funds.

Expert Bio:

This forensic accountant has been active in the field since 1990. He has worked extensively in fraud investigation and loss quantification for both criminal proceedings and civil litigation. He is a chartered accountant with a specialization in investigative and forensic accounting and serves as the senior managing director of a forensics firm. He previously served as the president of a forensic investigators association as well as the regional governor of an association of certified fraud examiners.

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