Challenge
When a construction project went over budget by 50%, an extra $2 million, the investors wanted answers. Not satisfied with the general contractor’s nebulous explanations of expenses, over time they became increasingly convinced that something nefarious was occurring. Integrity One Solutions was called in to reconstruct the books and records, to identify and quantify questionable transactions, and to trace assets for potential financial remedy.
Solution
We conducted a meticulous review of financial records, time and materials invoices, and we analyzed building permits issued to the general contractor during the same time. We conclusively determined that materials ordered and delivered to the client’s work site were not only excessive, but also were likely diverted to satisfy the needs of other projects. The discrepancies pointed to an embezzlement scheme.
Results
This analysis served as the body of evidence used by the client to successfully pursue legal and financial remedies against the general contractor.
