Recent Projects

  • A worldwide securities and mutual fund company made a claim for loss allegedly caused by errors and omissions or employee dishonesty of its agents. SDC was retained to assist in determining if the claimed loss was due to employee dishonesty, errors and omissions, or neither.
  • Directors and Officers of a corporation were accused of disseminating false and misleading financial information which inflated the value of the corporation’s stock and ultimately caused a significant loss to shareholders when accurate financial information was disclosed. SDC was retained to determine if the allegedly false and misleading financial information had any effect on stock value, and if so, the amount of the effect on the stock value.
  • A bank loan officer embezzled several million dollars over a twenty year time period utilizing a series of loans. The bank submitted a claim that included both fictitious loans and loans to real borrowers made by the loan officer, which had not been repaid. SDC was retained to determine the amount of the direct loss due to dishonest and fraudulent acts by the employee.
  • State officials bypassed policies and procedures, and their acts ultimately resulted in significant loss to various government agencies. SDC was retained to determine the amount, if any, of loss due to lack of faithful performance.
  • A large multinational manufacturer filed bankruptcy. A claim was then submitted for significant inventory shortage on the grounds that the loss was due to employee dishonesty. SDC was retained to determine whether the inventory shortage was due to lack of proper accounting entries, accounting methodology used by the manufacturer, poor internal controls, normal inventory shrinkage, irreconcilable differences, employee dishonesty, or other causes. SDC was also called upon to calculate an amount, if any, of loss due to employee dishonesty and to determine if the value of the lost inventory was at true cost or inflated.
  • A pension administrator was accused of misappropriating money from a pension fund over a number of years. Several employee dishonesty insurers were involved. SDC was retained by the insurers jointly to investigate and evaluate the amount of loss due to employee dishonesty under each insurer’s policy. SDC was also asked to provide detailed information on possible recovery from various banks which honored checks bearing forged endorsements or altered payees.
  • An oil supplier shipped contaminated oil to a food manufacture. The contaminated oil was used by the food manufacturer. The manufacturer was required by the FDA to recall their products. SDC was retained by the liability insurers to determine the direct variable expenses related to the retail and manufacture of the products.

Please contact us to discuss any of the services offered by SDC and / or your professional accounting needs. We look forward to the opportunity to assist you, as an insurer or member of the legal community, in your professional accounting needs.