Case Summaries
The following summaries demonstrate how Troy Group’s extensive experience and well-directed investigative work can uncover illegal actions and identify significant red flags, whether the case is small or extremely high profile. These summaries also demonstrate how Troy Group, Inc. works in conjunction with traditional law enforcement to prosecute suspected criminals.
- Due Diligence Investigation Points to Possible Ponzi Scheme
- Due Diligence Uncovers Identity Theft
- Loan Frauds / Kickback Investigations
- Due Diligence Investigation Points to Potential Loan Fraud
- Theft / Embezzlement Investigation
- Due Diligence Investigation Identifies Federal Criminal Record
- Locating Individual’s Assets and Locating Internationally (flight to avoid prosecution)
Due Diligence Investigation Points To Possible Ponzi Scheme
In the course of conducting a due diligence investigation for a financial institution, Troy Group, Inc. determined that a high-profile loan applicant with a reportedly large 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 by Troy Group, Inc. These significant red flags indicated that despite extensive assets and affiliations with several popular musical groups there was an indication of the possibility of a Ponzi scheme.
The individual was subsequently indicted for devising and perpetuating 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.
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, Inc. 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.
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, Inc. 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, Inc. investigators, the loan officer confessed to his involvement in the fraud. Troy Group, Inc. 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, Inc. also testified at the federal trial of the loan officer, who was convicted and sentenced for his crimes.
Due Diligence Investigation Points To Potential Load Fraud
A Midwest bank had requested a Troy Report for a current customer who was seeking additional financing. Troy Group, Inc. 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 additional financial institutions indicated that this individual had an abnormal amount of breach of contract suits. Eventually, the subject was charged again in another fraud scheme involving numerous financial institutions.
Theft / Embezzlement Investigation
During a recent renovation of their lockbox area, a small, Chicagoland bank determined that that $200,000 worth of jewelry was missing from a safe-deposit box. The bank also became aware of a $180,000 discrepancy in an otherwise dormant account.
Funds from this account had been wire transferred to several accounts at other financial institutions in the region. Because the local police investigation was inconclusive, the bank requested a Troy Group, Inc. investigation into the two incidents. Troy’s investigation 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. The suspect was convicted and sentenced for the crimes.
Due Diligence Investigation Identifies Federal Criminal Record
A prospective credit customer was pursuing a $35 million commercial loan from our client bank. The loan had been through the loan committee process, and approval was pending based on the Troy DDI.
Troy Group, Inc. had discovered that the prospective customer had recently been convicted of federal Medicare Fraud and Tax Evasion in another state and was on federal probation. The loan was denied for fraudulently indicating that he was not convicted of a crime.
Locating Individual's Assets And Location Internationally
(Flight To Avoid Prosecutions)
A premier bank in the U.S hired Troy Group, Inc. to investigate and locate a bank customer who fled the U.S. to avoid prosecution for his part in insurance fraud and bank fraud. This individual transferred business loan proceeds from his business account for personal use. Troy Group, Inc. was able to identify properties in the Virgin Islands and the purchase of $500,000.00 of raw diamonds. The individual also used his loans to support his lifestyle in Europe.
Troy investigators located his temporary address in Nice, France. Our client was able to retrieve funds from the properties in the Virgin Islands. Our investigators also assisted our client in the retrieval of a yacht in France. This individual was eventually arrested by Italian authorities and extradited back to the United States. The case received major media attention such as CNN, ABC, 20/20 and 60 minutes.
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.