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1 What to do if you discover a fraud…. Mona Vaswani, Partner Litigation 1.

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Presentation on theme: "1 What to do if you discover a fraud…. Mona Vaswani, Partner Litigation 1."— Presentation transcript:

1 1 What to do if you discover a fraud…. Mona Vaswani, Partner Litigation 1

2 2 Who should be notified  Insurers  Regulators  Criminal authorities  Money laundering issues

3 3 Objectives  Identify perpetrators – find the rot  Need to investigate  Head on a pole  Corporate morale  Financial recovery / defending claims  Publicity and reputation  Principle

4 4 Managing the investigation  Who needs to be involved  Preserving evidence  Preserving privilege  Dealing with employees  Conducting interviews  Assembling the team

5 5 Private Investigators  Finding the right firm  Observing applicable law  Privilege  Proceedings against the client and solicitors involved

6 6 Choosing the Defendants and Jurisdiction  Too many defendants  Costs  Delay  Tactics  Jurisdiction

7 7 Securing the assets  Asset freezing injunctions  Gagging order  Proprietary injunctions  Trusts and offshore structures  Bogus transfers  Insolvency provisions  Attacking legal privilege  Multi-jurisdictional co-ordination  Confiscation of passport

8 8 Search Orders  Search of office and home  Real risk of destruction of evidence  Conduct of the search

9 9 Interim battles  Asset disclosure  Legal and living expenses  Contempt of court  Tactics  Fake illnesses

10 10 PR  Tactics for the client  Interaction of legal proceedings and PR

11 11 Co-ordination with criminal proceedings  Effect of criminal investigation / prosecution on civil proceedings  Confiscation orders  Interview of witnesses  Delay  Financial recovery?  Standard of proof

12 12 Making accomplices pay  No recovery from fraudster  Tracing claims  Personal claims against “deep pocket” accessories

13 13 Settlement and mediation  Mediation in fraud litigation  Where it’s helpful  Where it’s not

14 14 Questions?


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