Financial Investigation of 3 Asian Food Importer & Distributors in California
Case Name
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Court
Superior Court of California - Los Angeles
Engagement Type
Financial Investigation
Three Asian food importer and distributors located in Los Angeles and Orange County, California
Situation
Resolute took possession of four distribution warehouses and prepared an inventory of all assets.
Strategy
Upon the systematic abandonment of all company employees, the Resolute team ceased operations and proceeded with a systematic liquidation of the assets. During the following eleven-month period they negotiated more than 100 separate sales transactions of more than $2MM in perishable and nonperishable seafood, dry goods, personal and real property.
Upon the forensic review of the company’s books and records, it quickly became apparent that virtually all receivables were from a fraudulent sales program between related companies.
Resolute then facilitated the turnover of all documents captured on site to the F.B.I. and I.R.S. Criminal Investigations.
Solution
All assets of the companies were liquidated, and various principals were ultimately prosecuted by the Federal Government.