Case StudiesTelia Company Investigation Mobile eDiscovery, State Secrets Assignment Brazil "Car Wash" Investigation Swiss Anti-Corruption Investigation Anti-Bribery and Fraud Exercise in Yemen International Mining Compliance Assessment Sanctions and Class Action Assignment in Europe Global Real Estate Fraud Investigation
Following its acquisition by a major investment bank and property developer, a European real estate firm faced hundreds of shareholder litigation claims together with regulatory investigations in multiple jurisdictions. Investors turned to FRA to reconstruct the complex financial fact pattern for defense of the shareholders’ claims, and to identify and quantify potential litigation claims against the company’s historic advisors. This engagement spanned across five jurisdictions: the UK, Austria, the US, Cyprus, and Russia.
FRA’s forensic investigators set out to untangle complex securities issuance processes and real estate transactions. Financial books and records, published news releases, operational reports, and emails were assessed to reconstruct a timeline, construct legal claims, and quantify potential damages, as well as to respond to regulators and shareholder litigants.
FRA verified and analyzed the data and was able to identify and review the security issuances, underwriting relationships, and the use of investment proceeds across a five year period. We were able to uncover a scheme of circular fraud in which the company’s funds were used for the benefit of its advisors. Our experts provided Court testimony to assist the defense of shareholder claims and assist drafting a commercial court claim against the advisor for €1.8B, while facilitating responses to regulatory investigations. Our review also uncovered advisor fraud and unethical conduct in a series of Russian real-estate transactions.
FRA’s investigation established a fact pattern so that potential losses could be assessed and high-stakes claims could be framed. FRA also provided critical support with expert witness reports and testimony in European courts. Subsequent investigations by authorities in relevant jurisdictions confirmed FRA’s findings.
Thanks to FRA’s post-acquisition review, fraud investigations, litigation support, and expert witness testimony services, the client was able to substantially de-risk its investment and pursue opportunities to remediate losses arising from unethical advisor behavior.