A federal equity receiver is an independent party appointed by a federal district court at the request of a regulatory agency to prevent irreparable harm. Once appointment, the receiver is usually charged by the court to protect and preserve assets, locate additional assets, claw-back ill-gotten gains, file third party litigation, liquidate estate assets, establish a claims procedure and develop a distribution plan to provide restitution to victims in the case. AFS has significant experience working receivership cases with the Commodities Futures Trading Commission, Federal Trade Commission and Securities and Exchange Commission.
A state court receiver is appointed by the court to take possession of specific assets, including property or businesses, and to administer them for the benefit of the parties. State court receiverships are usually used as an alternative to bankruptcy, in business disputes, to enforce a judgement or under state regulatory action. AFS has broad experience being appointed by state courts and working with many state agencies and law firms.
Regulators frequently require appointment of a corporate monitor to ensure compliance with the terms of a settlement between the company and regulator. The appointment of a monitor allows a company time to take corrective actions pursuant to a settlement with the regulator in place of more severe punishment or fines. CFS has considerable experience serving as an independent monitor while also working to minimize the impact on the operating business.
A trustee is an independent party assigned to administer a bankrupt estate for the benefit of creditors of the estate. As trustee, AFS has the experience to marshal, protect, preserve and administer assets for the benefits of creditors.
AFS has the skills, insight and experience to assist investors by quantifying damages and tracing assets to provide insight in support of fact finding, identifying internal control
failures and assessing their resultant impact on investors and financial institutions through the use of forensic accounting.
Whether it is a large-scale insider trading investigation or a focused examination into specific transactions and/or events, AFS offers a valuable team of experts with financial industry, fraud examination and accounting backgrounds allowing management and counsel to be in command of the facts in order to make the best- informed decisions.
AFS has successfully assisted a number of financial institutions in response to inquiries from regulatory agencies. Our success in helping our clients is due in large part to the experience of our consultants, with many having previously worked for regulatory agencies, which provides our clients with the unique insight in working to achieve the best possible result.
AFS has extensive hands-on experience in tracing assets. Making full use of custom tools and reports developed by our top-tier IT team and utilizing some of the best software available, we have demonstrated our ability to quickly trace assets and help uncover attempts to commit fraud while also allowing us to clearly present asset flows to regulators, juries, law enforcement or other audiences through advanced visualization techniques.
A turnaround and restructuring professional is brought into a company to help find key issues within operations of the company, review and stabilize finances, provide liquidity projections, and negotiate with lenders to restructure debt all while providing assurance to customers and creditors.
Our consultants and testifying experts have diverse backgrounds giving AFS a deep and substantial variety of expertise.
AFS has created a comprehensive program to prevent and deter fraud within your organization by first assessing the risks within your organization, initially focusing on
policies, procedures, training and internal controls.