1 What to do if you discover a fraud…. Mona Vaswani, Partner Litigation 1.
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Transcript of 1 What to do if you discover a fraud…. Mona Vaswani, Partner Litigation 1.
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What to do if you discover a fraud….Mona Vaswani, Partner Litigation
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Who should be notified
Insurers Regulators Criminal authorities Money laundering issues
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Objectives
Identify perpetrators – find the rot Need to investigate Head on a pole Corporate morale Financial recovery / defending claims Publicity and reputation Principle
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Managing the investigation
Who needs to be involved Preserving evidence Preserving privilege Dealing with employees Conducting interviews Assembling the team
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Private Investigators
Finding the right firm Observing applicable law Privilege Proceedings against the client and solicitors involved
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Choosing the Defendants and Jurisdiction
Too many defendants Costs Delay Tactics Jurisdiction
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Securing the assets
Asset freezing injunctions Gagging order Proprietary injunctions Trusts and offshore structures Bogus transfers Insolvency provisions Attacking legal privilege Multi-jurisdictional co-ordination Confiscation of passport
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Search Orders
Search of office and home Real risk of destruction of evidence Conduct of the search
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Interim battles
Asset disclosure Legal and living expenses Contempt of court Tactics Fake illnesses
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PR
Tactics for the client Interaction of legal proceedings and PR
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Co-ordination with criminal proceedings
Effect of criminal investigation / prosecution on civil proceedings
Confiscation orders Interview of witnesses Delay Financial recovery? Standard of proof
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Making accomplices pay
No recovery from fraudster Tracing claims Personal claims against “deep pocket” accessories
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Settlement and mediation
Mediation in fraud litigation Where it’s helpful Where it’s not
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Questions?