Case Summaries

The following summaries demonstrate how Troy Group’s extensive experience and well-directed investigative work can uncover illegal actions, whether the case is small or extremely high profile. You will also see how Troy Group works in conjunction with traditional law enforcement to prosecute suspected criminals.

Due Diligence Investigation Points to Possible Ponzi Scheme

In the course of conducting due diligence investigations for several financial institutions, Troy Group determined that a high profile loan applicant with a reportedly high net worth was the subject of excessive litigation, being a party to a multitude of breach of contract suits, tax liens, and judgments. This individual was considered high risk despite extensive assets and affiliations with several popular musical groups. Troy Group advised their clients of the possibility of a Ponzi scheme. The individual was later indicted of a multi-million dollar Ponzi scheme involving many banks across the U.S. He left the country to avoid federal prosecution, but was captured by the FBI and extradited to the U.S. from Asia. Our due diligence investigation identified the risk and prevented millions of dollars of loan losses to our customers.

Back to Top

Due Diligence Uncovers Identity Theft

A large commercial bank ordered a due diligence investigation on an attorney and his firm. The law firm was looking for a commercial loan to expand its growing law business. Troy Group determined that the individual who identified himself as the senior partner in the firm was actually a con man who assumed the identity of a deceased attorney in Los Angeles, CA. The bank notified the authorities, and the individual was arrested at a meeting that was arranged to discuss the loan.

Back to Top

Loan Fraud/Kickbacks Investigation

A loan officer for one of the largest financial institutions in the U.S. was suspected of making loans to organized crime figures in Chicago in exchange for kickbacks from the borrowers. An investigation by Troy Group determined that the loan officer had indeed received over $100,000 in kickbacks and had made loans to fictitious businesses acting as fronts for Organized Crime. It also came to light that the loan officer was not acting alone; he had accomplices in the illicit activity. During an interview with Troy Group investigators, the loan officer confessed to his involvement in the fraud. Troy Group cooperated with the FBI and the U.S. Attorney’s office, which led to the arrest and conviction of the organized crime parties. Troy Group also testified at the federal trial of the loan officer, who was convicted and sentenced for his crimes.

Back to Top

Due Diligence Investigation Points to Potential Loan Fraud

A midwest bank had requested a Troy Report for a current customer who was seeking additional financing. Troy Group determined that the individual was a former felon who had been sentenced to 5 years in prison for a loan fraud that exceeded $85 million. It was discovered that this individual was following the same method of operation that he had employed in his $85 million fraud. Subsequent due diligence investigations for other financial institutions revealed that the individual had continued to amass commercial loans across the U.S.

Back to Top

Theft/Embezzlement Investigation

A major bank in the Chicago area determined that $120,000 worth of jewelry was missing from a lockbox during a recent renovation of their lockbox area. The bank also became aware of a $200,000 discrepancy in an otherwise dormant account. Funds from this account had been wire transferred to several accounts at other institutions in the area. An investigation by the local police was inconclusive. The bank requested a Troy Group investigation into the two incidents, which led to the identification of the culprit. The bank manager confessed to our investigator. The stolen jewelry and 90% of the funds withdrawn from the dormant account were recovered, and the suspect was convicted and sentenced for the crimes.

Back to Top

Due Diligence Investigation Identifies Federal Criminal Record

A prospective credit customer was pursuing a large commercial loan from our client bank. The loan had been through the loan committee process, and approval was pending based on the Troy Report. Troy Group discovered that the prospective customer had recently been convicted of federal Medicare Fraud and Tax Evasion in another state. The individual was on federal probation. The loan was denied.

Back to Top

Compliance: Any information Troy Group, Inc. obtains, including information acquired from publicly available sources, is kept strictly confidential and shared only with our requesting clientele. All investigations conform with the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Gramm Leach Bliley Act, and applicable federal and state laws and regulations.

Back to Top