Fraud busters co-pilot with attorneys in recent investigations - San Francisco Business Times:

nadezhdaqedyxos.blogspot.com
Mukamal is an accountang by trainingand certification, but such callsz often come from attorneys. “Just the other day, attorneyss for a trustee overseeing a condo development calledand ‘Would you look at this for Mukamal said. “We looked at all the history, accountingv standards and determined there was a causde of action against the directors and Accountants and attorneys work togethe more closely on fraued investigation than just about anyothed task.
Given the current era of real estate fraud and Ponzo scheme blowups likeBernard Madoff’s, the skilo and cooperation of good lawyerws and accountants are more important than Mukamal has played many roles in largre financial investigations, from being in control of an estate as a truster or receiver to providing advice for otherr receivers or attorneys. He was a trustee for a smalp part ofSouth Florida’s largest bank fraud at factorinh company E.S. Bankest.
“For the most accountants are used as a but good attorneys are open to suggestionsz from aforensic accountant,” he When he’s a receiver or trustee, Mukamal, a partnee at MarcumRachlin, often coordinates the efforts of multiple lawyers and accountants. “k would be a conductorf and direct my accountantsand attorneys,” he said. “Lega fees are not insignificant. In some cases, I know I woulds have a nice judgment I couled hang onmy wall, but that doesn’ do any good if you’vee siphoned off all the money in obtaining the In one of Mukamal’s recent cases as a bankruptcy trustee, he securesd a $6 million settlement in disputea with creditors of Laminate Kingdom, a Doral company that enteres bankruptcy with $20 million in claimzs against it.
He was represented by attorney Gary Freedmanof . One of Soutjh Florida’s best-known financial investigators is Lewis Freeman ofLewis B. Freeman & Partners in Miami’s Coconuyt Grove. Freeman’s biggest case was as receiver inthe E.S. Bankest fraud case, where he examine money streams involving billionsof dollars. He was firstt appointed by the court as aneutral examiner, and then becamee a bankruptcy trustee. In that case, he was working with federak prosecutors and relied on the support of threewlaw firms. “Basically, the prosecutors have to do Miami’ on the numbers,” Freeman said.
“So, the plaintiffes – which is usually the government – have to follo the money, and we are the ones who actuallgy go in and do the Freeman works mostly as an but is alsoan attorney. His legal help for E.S. Bankes t came from Paul Battistaat , special counsel Steve Thomas and attorneys at Berger Singerman. Investigating and recovering from real estatee fraud has become a cottage industry for some lawyersand accountants. Attornety Mark King of Jones Walker in Miamij has worked with to try to get a largw Bonita Springs condominium project back on its One of their tasks is figuring out if any fraude occurred and how the money mighgtbe recovered.
“Often, a developer of a troubleds project will take out allthe cash, and attemp to justify it by saying it’se past-due management fees,” King said. you need someone who understands managingy properties and who is strong in numbersw to understand why that isor isn’t so. KW has accountantsx who can do that.” The eventual goal, with the accountants’ is to explain what happened to a judge or or to reach a settlemeng beforethat happens.
“At some I’m going into court to try to explain what and tell the judge how weknow it,” King