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What to do if you discover a fraud….

Mona Vaswani, Partner Litigation. What to do if you discover a fraud…. 1. Who should be notified. Insurers Regulators Criminal authorities Money laundering issues. Objectives. Identify perpetrators – find the rot Need to investigate Head on a pole Corporate morale

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What to do if you discover a fraud….

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  1. Mona Vaswani, Partner Litigation What to do if you discover a fraud…. 1

  2. Who should be notified • Insurers • Regulators • Criminal authorities • Money laundering issues

  3. Objectives • Identify perpetrators – find the rot • Need to investigate • Head on a pole • Corporate morale • Financial recovery / defending claims • Publicity and reputation • Principle

  4. Managing the investigation • Who needs to be involved • Preserving evidence • Preserving privilege • Dealing with employees • Conducting interviews • Assembling the team

  5. Private Investigators • Finding the right firm • Observing applicable law • Privilege • Proceedings against the client and solicitors involved

  6. Choosing the Defendants and Jurisdiction • Too many defendants • Costs • Delay • Tactics • Jurisdiction

  7. 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

  8. Search Orders • Search of office and home • Real risk of destruction of evidence • Conduct of the search

  9. Interim battles • Asset disclosure • Legal and living expenses • Contempt of court • Tactics • Fake illnesses

  10. PR • Tactics for the client • Interaction of legal proceedings and PR

  11. Co-ordination with criminal proceedings • Effect of criminal investigation / prosecution on civil proceedings • Confiscation orders • Interview of witnesses • Delay • Financial recovery? • Standard of proof

  12. Making accomplices pay • No recovery from fraudster • Tracing claims • Personal claims against “deep pocket” accessories

  13. Settlement and mediation • Mediation in fraud litigation • Where it’s helpful • Where it’s not

  14. Questions?

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