1 rich Libsyn https://www.libsyn.com 90 600 In Sound Business Insights Episode 32 - Business Fraud Dan Watkins discusses five areas of business-related fraud as well as remedies and real-life stories to illustrate appropriate examples of this complex topic. The five types of fraud we will cover are: Consumer Fraud Business Fraud / Unfair Competition Business Partner Fraud / Shareholder Fraud Sale of Business Fraud Criminal Fraud (Note: the Watkins Firm handles Civil Litigation) In Sound Business Insights Episode 32 - Business Fraud Dan discusses the elements of fraud as they relate to the five separate aspects of fraud from a business perspective.&amp;nbsp; Dan discusses how he has witnessed one company take the products of another company, relabel them and then resell them.&amp;nbsp; Another example is the company who appears to be bankrupt and is closed and then six months later a couple of investors in that closed company notice their friends and co-investors are now driving new expensive cars and living in large homes.&amp;nbsp; How did this happen?&amp;nbsp; The answer is 3 of the former owners hid the success, closed the company, took the product overseas, set up a new company under a new brand and were making millions. Dan shares another example where a group of companies are under a national umbrella and the accountant for the national entity decides to perpetrate a fraud across a period of several years.&amp;nbsp; If a group expense of, say $5000, came in (and should be divided equally between the 9 sub-companies) the account would charge each $5,000 and pocket the difference.&amp;nbsp; What outcome was Dan able to achieve for our client?&amp;nbsp; You'll have to listen to the podcast to find out! Sound Business Insights Episode 32 - Business Fraud closes with examples of how fraudsters use the sale of a company or the acquisition of a business to commit fraud.&amp;nbsp; This inclueds the example of how a merger is a common strategy to water down or eliminate the interests of minority shareholders. &amp;nbsp; Sound Business Insights https://watkinsfirm.com <iframe title="Libsyn Player" style="border: none" src="//html5-player.libsyn.com/embed/episode/id/27012804/height/90/theme/custom/thumbnail/yes/direction/forward/render-playlist/no/custom-color/88AA3C/" height="90" width="600" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> https://assets.libsyn.com/secure/item/27012804