We performed a detailed investigation of funds and asset tracing, procurement data and stock movements. Our work identified the use of ‘hidden’ bank accounts, false invoices to obtain drawdowns under the factoring arrangement. Indications of collusion with suppliers to purchase non-existent stock and possible money laundering. Our investigations led to identification of ultimate beneficiaries of a scheme operating over several years. Our findings were reported to ASIC, the police and the NSW Fraud Squad.
We performed a detailed investigation of funds and asset tracing, procurement data and stock movements. Our work identified the use of ‘hidden’ bank accounts and false invoices to obtain drawdowns under the factoring arrangement—indications of collusion with suppliers to purchase non-existent stock and possible money laundering. Our investigations identified the ultimate beneficiaries of a scheme operating over several years. Our findings were reported to ASIC, the police and the NSW Fraud Squad.
