Category: Loan Fraud

"Shadows of Deceit: Unveiling Financial Fraud Through Private Investigation"

6/2/2023

Private investigators play a crucial role in uncovering financial fraud and protecting the interests of individuals, businesses, and organizations. With their specialized skills, knowledge, and resources, they assist in detecting fraudulent activities, gathering evidence, and presenting a strong case for legal action. In this article, we will explore the role of private investigators in investigating financial fraud and how they contribute to maintaining the integrity of the financial system.

Financial fraud encompasses a wide range of illegal activities, such as embezzlement, money laundering, insider trading, Ponzi schemes, and identity theft, among others. These acts can cause significant harm to individuals and businesses, leading to financial losses, reputational damage, and even bankruptcy. Private investigators, such as those who are part of the EXCALIBUR Private Investigation team, serving the states of Colorado, New Mexico and South Carolina, are often hired to identify perpetrators, collect evidence, and help victims seek justice.

One of the key strengths of our private investigators is their ability to conduct discreet and confidential investigations. They have the expertise to navigate complex financial transactions, analyze records, and follow the money trail. They employ various techniques, including surveillance, interviews, background checks, and forensic accounting, to uncover fraudulent schemes and trace the flow of illicit funds. By utilizing their networks and resources, private investigators can access information that is not readily available to the public, which can be instrumental in unraveling financial fraud.

EXCALIBUR’s investigators also collaborate closely with law enforcement agencies, regulatory bodies, and legal professionals in financial fraud cases. They work hand-in-hand with these entities to share information, provide expert analysis, and strengthen the overall investigation. This collaboration ensures that all relevant aspects of the case are thoroughly examined and that the evidence gathered meets the required legal standards. We often act as liaisons between victims and law enforcement, bridging the gap and facilitating effective communication.

In addition to their investigative skills, our professional private investigators bring a unique perspective to financial fraud cases. They possess a deep understanding of human behavior, motivations, and patterns, allowing them to anticipate the actions of fraudsters and identify potential vulnerabilities in financial systems. Their expertise in risk assessment enables them to provide valuable recommendations to individuals and organizations to prevent future fraud occurrences. By conducting comprehensive due diligence and implementing robust internal controls, private investigators help mitigate the risk of financial fraud.

Moreover, private investigators are adept at presenting their findings in a clear and concise manner. They compile comprehensive reports and, if necessary, testify in court as expert witnesses. Their ability to communicate complex financial concepts in a way that is understandable to non-experts is crucial for legal proceedings. Their testimony often serves as a critical component in securing convictions and ensuring that justice is served.

In conclusion, private investigators play a vital role in investigating financial fraud. Their specialized skills, resources, and collaboration with law enforcement agencies contribute to the detection and prevention of fraudulent activities. By diligently following the money trail, conducting thorough investigations, and providing expert analysis, private investigators assist in safeguarding the financial system and protecting the interests of individuals and businesses. Their efforts in uncovering financial fraud are essential in maintaining the integrity of the financial sector and ensuring that those responsible are held accountable.

Have you been a victim of financial fraud or are you about to enter into a financial arrangement and want to make sure the other party doesn’t have any skeletons in their closet? Contact EXCALIBUR Private Investigation and let us put our 30+ years of federal law enforcement (FBI) and private investigation experience to work on your case. We’ll find the answers you need. Call us today at 719.208.4088, 505.208.6400 or 803.806.7800 or fill out our contact form and a professional private investigator will be happy to discuss your case with a no-obligation, free consultation.

Lee Walters
President-Lead Investigator

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10 QUESTIONS YOU MUST ASK BEFORE HIRING A PRIVATE INVESTIGATOR

11/28/2022

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10 Questions to Ask a Colorado Springs Private Investigator

There are many instances where you may need to hire a private investigator. No matter what you're trying to accomplish, it's best to interview multiple investigators to see who is the right fit for you before giving one the assignment. We developed ten questions you should ask any professional investigator you're thinking about hiring:

1. How long have you been conducting investigations?

Note that this question will give you a good sense of how long the investigator has actually conducted investigations and if they have law enforcement experience where they've actually received training in all aspects of conducting an investigation. If they respond with "5, 7, ____ fill-in-the-blank years, be sure and ask if all those years of experience are only as a private investigator or not. At EXCALIBUR Private Investigation, we have over three decades of law enforcement (25 years) and private investigation (10 years) experience and have received ongoing training during the entirety of that time.

2. Are you licensed, insured and bonded?

In the state of Colorado, Governor Jared Polis vetoed ongoing licensure of private investigators effective August 31, 2021 and the industry is full of people who couldn't get licensed in the past due to a variety of reasons. Make sure to ask if they've ever been licensed in any state and inquire as to what insurance they have and if they are bonded. An uninsured, unbonded, private investigator is a train wreck looking for a place to happen. At EXCALIBUR we're insured and bonded and have held state issued private investigator's licenses in California, Virginia and Colorado.

3. What hours will you work on my case?

Never, never, never hire a private investigator who only works banker's hours, i.e. 9:00 a.m. - 5:00 p.m. If you've already hired them and can't seem to get in touch with them after 5:00 p.m. fire them. Immediately! Many cases require the investigator to work nights, weekends, and holidays, and can require much more than an 8-hour day. Our investigators work when the case requires it, no matter when that may be. Private investigation is not a 9-5 job!!!

4. What type of training have you had?

Many investigators will vacillate and stumble when you ask them this question and will try to generalize their training. They'll try to tell you how many years they've been doing this kind of work, what they did in the military, etc. If they can't answer with specifics, you can assume they aren't qualified, or equipped, to handle your case. At EXCALIBUR our investigators have trained at the FBI Academy, the DOJ Advocacy Center, the Central Intelligence Agency (CIA) and the Military Police Academy, to name just a few places our investigators have trained. Training is ongoing as there's always something new to learn.

5. What kind of report will you provide?

No matter what kinds of evidence a private investigator collects, if it isn't properly documented, via written reports, chain-of-custody recorded, videography, photographs, etc., it does no one any good. Many times a case has been defeated at trial due to shoddy or incomplete reports. Unless the private investigator has been trained in how to properly document evidence, they'll fail every time. A good professional investigator will give you frequent updates on all investigation conducted including what they've discovered, and what remains to be discovered. At EXCALIBUR Private Investigation we update all clients any time there's activity in a case and we provide a detailed, written report, that references all audio, video, photographs, surveillance activity, GPS tracking, etc. collected during the investigation. We hand deliver our reports with all of the collected evidence and take the time to go over our findings with the client.

6. How should we communicate with each other?

Many times in an investigation the client may still live with the subject of the investigation. If the private investigator you're interviewing doesn't have alternative communication methods in mind, find another investigator. We use a variety of apps and burner numbers untraceable to our firm as any investigator worth their salt should.

7. Can you recommend a good lawyer?

This question will let you know immediately if the investigator is respected by those in the industry. All good investigators should at least have a few law firms as clients and should be able to recommend which lawyer would be the best for your particular matter. Our firm has worked with law firms all over the country and can recommend the right firm no matter what type of case you need help with.

8. Are you willing to testify in court?

Any private investigator should be willing to testify in court. If the investigator you're interviewing hesitates, even momentarily, that's a huge red flag! Individuals who have presented themselves as PI's may have something in their background that they know will come out in any trial, such as criminal convictions. Without licensing even an individual with a criminal past can claim to be a private investigator. The investigators of EXCALIBUR Private Investigation have all testified in federal, state and local courts numerous times.

9. Will you guarantee your results?

If an investigator tells you they can guarantee the outcome of an investigation they are either lying or have never worked an investigation. An investigator with any experience whatsoever, understands that you never know where an investigation will lead. We guarantee we'll work your case with all available tools and expertise, but we can never guarantee a particular outcome. If the investigator tells you they guarantee their results hold on to your wallet and be suspect of any information they provide.

10. Do you have references?

Any private investigator with a level of experience should be able to provide references when requested. Most reputable PI's will have plenty of clients they can't provide as references due to confidentiality, but they should have some, such as law firms and other professionals, that can speak to their work product. Another red flag if the PI you're interviewing can't, or won't, provide references.

I recommend printing these questions out any time you are thinking of engaging a private investigation firm. I'm sure our competitors will be practicing their answers should one of our readers call them. If we can help you in any way, please don't hesitate to contact us.

Lee Walters
President-Lead Investigator
EXCALIBUR Private Investigation
719.208.4088

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SKandal! Bringing Down Wirecard

10/22/2022

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As someone who's worked literally hundreds of white collar crime fraud cases, bank fraud, wire fraud, con games, you name it, whenever I come across a documentary of that type of crime I'm drawn to it. Often times the documentary doesn't do the investigation justice, but over the last two days I had a chance to watch Skandal! Bringing Down Wirecard on Netflix and it's an excellent treatment of how a long-running, fraudulent business, was a German FinTech darling when it was actually a fraud scheme all along.

I have to admit, I had never heard of Wirecard until watching this but, for those of you not familiar with them as I wasn't, they were selling themselves as the PayPal, Zelle, etc of Europe. Not to give away too much, but there's all kinds of intrigue. Spies, lots of private investigators, at one point the company had 28 PI's on their payroll looking into reporters and others writing negative articles and short selling their stock, and foreign agents from numerous countries.

As with all cons, even people who think there's something fishy going on, will dismiss their doubts under the misguided thinking that this government agency or that government agency is surely monitoring the company. When I hear that I laugh and promptly think of Bernie Madoff and how the Securities and Exchange Commission wqw asleep at the wheel for years. And take my word for it, there are still fraudulent companies operating as we speak even though our investigative agencies, who should be on the lookout for these, seem to be more interested in solving everything but true crime these days.

If you have Netflix I can strongly recommend this one as it will have you on the edge of your seat the entirety of the film.

About to enter into a large investment, partnership, or other business arrangement? Invest a few dollars and have a background investigation completed of all the principles and have some business intelligence conducted to see if everything that's being presented is really as it's being presented. Our professional private investigators will either verify what is being presented as true, or save you from making a large financial mistake that could be devastating. We also have a forensic accountant on staff who can dig through those financials to see if they are a true reporting of the financial health of the company. Call us today to discuss your needs.

Lee Walters
President
EXCALIBUR Private Investigation
719.208.4088; 505.208.6400; 803.806.7800

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HELP. SOMEONE STOLE MY IDENTITY!!!

4/12/2022

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From 2018 - 2020 there were 1.66 million cases of identity fraud reported to authorities. Who knows how many went unreported because the victim was too ashamed or embarrassed to admit they had been a victim of identity fraud. What can the average person do to keep their identities from being stolen? Here's a couple of ideas that we recommend to clients as well as friends and family:

Initiate a freeze on your credit. It's very easy to do and makes it much more of a challenge for a cybercriminal to steal your identity. Each of the three main credit bureaus, Equifax, Experian and TransUnion have information on their main website page that explains how you can place a freeze on your credit. Make sure to place a freeze on your kid's accounts as well as cybercriminals know those accounts are very rarely reviewed by the owners or their parents.

Place fraud alerts on your credit accounts. Anyone can place a fraud alert with the three aforementioned credit bureaus. You only have to place the alert with one of the three and then that credit bureau will instruct the other two to do the same. This will require a business to verify your identity before opening a new line of credit in your name.

Enroll in two-factor authentication. We know this can be a pain, but it's something you should enable on all your accounts when it's presented as an option. With this option, you'll have to enter your credentials and then follow up with a code, usually, that's texted or emailed to your known telephone number or email address.

Review your accounts closely. Even with all of the above in place, you should monitor your credit reports and account statements closely. Don't just throw those unopened statements in a drawer thinking everything is fine and be sure to review your credit reports at least once a year, I recommend quarterly, to make sure nothing is amiss.

With a little precaution you can help ensure that you don't become a victim of identity theft. If you feel like you may have become a victim of identify theft, please give one of our professional private investigators a call for a free, no-obligation consultation.

Lee Walters
President
EXCALIBUR - Private Investigation

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CALLING ALL AMATEUR FRAUD DETECTIVES

2/25/2022

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PPP LOAN FRAUD Investigators Colorado Springs

Loan Fraud Investigators in Colorado Springs

This just came across my desk this afternoon and is perfect for those of you who are internet sleuths and love tracking down fraud like we do. A software engineer in Palo Alto, California, Brian Hamachek, developed a website, www.pppdetective.com where anyone can see what businesses received PPP loans from the government and in what amount. When Hamachek learned there was a government website listing PPP loans that had been given out, he searched and discovered that several businesses in his town of Palo Alto had actually gone out of business before Covid hit or didn't have the amount of employees they claimed to have, yet got PPP loans anyway which were ultimately forgiven. Basically "free" money for these scammers. He decided to spin up a website of his own where anyone can put in a city and state and see which businesses received PPP loans, mostly forgiven, how many employees they claimed and how big their loans were. We've tried it out and it's very eye opening. You can also flag a loan that you think may be fraudulent based on your knowledge of your particular city.

For those of you who may, or may not, know there's a federal law known as the False Claims Act, also known as a Qui tam. This allows anyone who becomes aware of a fraud committed against the federal government, such as someone receiving a PPP loan when they shouldn't have, to file a federal case on behalf of the government. If the government takes the case, pursues it, and wins an amount of money from the subject, the person who brought the case, known as the Relator, gets 15 - 30% of the recovered funds. Doesn't take long to find a few multi-million dollar PPP loan fraud cases and have some nice paydays. The only catch in filing a Qui tam is that the Relator, (namely you, you Internet Sleuth), has to have an attorney to file the case. We've worked a lot of Qui tams over the last 8 years and know which law firms are great at getting the government to intervene, i.e. take the case, and those that aren't so great. Let us know if you find a PPP loan fraud case that you think has merit and we can discuss with you the possibility of success and then put you in touch with a firm that will ensure the case gets a fair shake from the U.S. Attorney's Office. Good hunting!!!

EXCALIBUR Private Investigation
719.208.4088; 505.208.6400; 803.806.7800
Serving all of Colorado, New Mexico and South Carolina

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