136 East South Temple
Salt Lake City, Utah 84111
One of the biggest challenges in a case with substantial assets is connecting the assets to the criminal activity. Asset and income tracing helps establish this link by investigating the paper trail, the series of documents providing written evidence of a sequence of events or the activities of a person or organization.
A financial investigation should be considered at the beginning of a criminal case. Gathering financial documents via subpoena, can generally take an extended amount of time. The many benefits of asset and income tracing include: providing valuable evidence to prove a crime, assist in the generation of new leads and additional targets, and the identification of assets subject to forfeiture in connection with a crime.
Financial investigations are divided into two stages. The first is creating a financial picture of the target and obtaining all relevant financial records about what assets the target possesses or is connected to. The second is analyzing all of the financial information obtained to establish what assets are connected to the crime.
At Sage Forensic Accounting, we have the expertise and experience to assist these cases.
The term dissolution of marriage refers to the ending of a marriage through legal proceedings, the same as divorce. In many jurisdictions, a couple may file a petition for the court to terminate their marriage pursuant to a written agreement between the parties. Such an agreement must cover all issues pertaining to the dissolution, allowing the matter to be concluded without a hearing or trial.
In most jurisdictions, divorce and dissolution of marriage are the same thing, each requiring the same legal proceedings to finalize. The proceedings may be adversarial, or the parties may work together to come to an agreement regarding all issues of distribution of marital assets, and payment of spousal support, as well as child custody and child support, if applicable.
If an agreement is reached, it is documented in a Marital Settlement Agreement, and presented to the court for approval and a final divorce order or decree. Any issues not settled between the parties may continue to trial, during which both parties will present argument, testimony, and other evidence to make their case. Leaving these things for the court to decide is a more expensive avenue for most litigants.
The Association of Certified Fraud Examiners (ACFE) conducted a study of the most common types of fraud occurring within companies. The ACFE defines fraud as “deception or misrepresentation that an individual or entity makes knowing that the misrepresentation could result in some unauthorized benefit to the individual or to the entity or some other party.” According to the study, approximately 10% of incidents concern white collar crime. Asset misappropriation and corruption tend to occur at a much greater frequency, yet the financial impact of these later crimes is much less severe. Greed and work pressure are the most common factors pushing management to deceive investors and creditors.
Sage has been asked to review the accounting records of several companies in order to determine if fraud had occurred, the impact or damages due to fraud. Sage has also assisted in the review and enhancement of internal controls in order to prevent and detect fraud.