Forensic Investigations
Financial irregularities can disrupt operations, damage trust, and create significant legal exposure. Effective forensic work demands a disciplined approach to tracing funds, analyzing records, and uncovering how a scheme was carried out — and by whom.
VLSS leads complex forensic investigations with a clear mandate: follow the flow of money, document the facts, and quantify the financial impacts with precision.
Our forensic accounting services include:
Investigating allegations of fraud, misconduct, or financial manipulation
Tracing assets, including for claims of misappropriation, theft, and matrimonial property claims
Uncovering schemes involving inflated assets, excessive expenses, collusion, related-party dealings, or misrepresented financial statements
Identifying unreported income, hidden assets, and unusual transactions
Conducting lifestyle analyses to assess spending patterns and financial behaviour
Quantifying financial losses and assisting with asset recovery efforts
Supporting counsel through coordinated investigations, including working alongside computer forensics teams
Preparing clear, defensible findings for mediation, arbitration, or trial, including expert testimony when required
Selected representative experience includes:
Estate dispute - Provided expert evidence which included analyzing the source and use of investments funds, and determining the net income derived from the invested residue of an estate. We were retained on behalf of capital beneficiaries.
Religious (not-for-profit) charity - Retained by religious charity to conduct independent forensic investigation and tracing of alleged misappropriated corporate assets and monies.
Real estate - Determined the source and use of funds used for the purchase, redevelopment and maintenance of a multi-million real estate investment property.
Investment fraud - Performed independent forensic review to substantiate allegations of a purported multilayered investment fraud scheme. Mandate included investigating the source and use of more than a billion dollars in funds, determining the economic sustainability of the group of companies' operations, and evaluating whether upper management intentionally undertook to conduct themselves in a deceptive manner towards investors.
Insurance broker - Tracing and verification of insurance agency's funds which were alleged to have been misappropriated by a former employee. This matter is ongoing.
Electronics company - Conducted independent forensic investigation report to investigate internal complaints pertaining to the misappropriation of an electronic company's corporate assets and phantom suppliers. Investigation included conducting interviews with staff and the alleged perpetrator.
International charity – Retained by insurer to review an employee dishonesty claim resulting from bid-rigging and fictitious vendors created by the procurement manager of the charity. We reviewed the internal controls in place, identified control weaknesses, commented on the methods of misappropriation and calculated the losses suffered.
Local charity – Retained by the charity to investigate their financial records and identify irregular expenses incurred by the director of the charity.
Construction materials retailer chain - We were retained by the insurer to review an employee dishonesty claim resulting from fictitious vendors. We prepared a critique of the claimant's expert report and opined on the losses suffered. Our work included a detailed investigation into the financial records of the company to identify illegitimate and legitimate advertising vendors. We were also asked to comment on the internal controls of the company and provide recommendations for improvements.
Parking lots – Retained to quantify losses resulting from cash misappropriated over a seven-year period by an administrative employee in charge of bank deposits for a portfolio of parking lots. We conducted a detailed analysis of the bank records, cash deposit slips and revenue records from various sources to identify the missing funds.
Real estate - Investigation and reconciliation of the cash inflows and outflows of a portfolio of real estate properties in response to allegations of fraud on behalf of a co-owner.
Car dealership – Retained to critique plaintiff's expert report alleging misappropriation of funds leading to insolvency and failure to pay the manufacturer following the delivery of hundreds of vehicles. We traced the funds received from the sale proceeds of said vehicles and analyzed and documented a series of intercompany transfers.