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Chaos in the Caribbean

In: Business and Management

Submitted By tramtran13
Words 1487
Pages 6
Chaos in the Caribbean
Strayer University
Forensic Accounting and Fraud Examination
ACC 571
Dr. Timothy Brown

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1. Evaluate Avey’s role as an expert witness for the Jamaican government. Avey and his firm were hired by the Jamaican government starting in the early in the 90s to investigate accusations of fraud and mismanagement and prepare reports outlining his findings starting with the Blaise Merchant Bank and Trust Co which spread to two similar but larger cases involving Century National Bank and its related financial entities and Eagle Merchant Bank. As an expert witness, Avey was hired by the Jamaican government to provide forensic investigation and audit support. He utilized specialized investigative skills in carrying out an inquiry conducted in such a manner that the outcome would be applicable to a court of law. In addition he examined evidence regarding assertions to determine its correspondence to established criteria carried out in a manner suitable to the court. Avey conducted his investigation grounded in sound forensic accounting principles where he quickly discovered self dealing in the Blaise Case where money was lent from one Blaise financial entity to companies controlled by its principal shareholders. In the Century Case, dishonesty was the main cause of the problems where the use of depositors’ funds to acquire such assets as real estate (which had also been the case with Blaise) for the potential personal gain of the individuals who controlled the financial institutions. In the Eagle case, once again depositor funds were misused, particularly in relation to the construction of a hotel originally intended as a 130-room-suite apartment complex. 2. Enumerate the likely techniques that Avey used to discover the connectivity between Blaise, Century and Eagle. One of the most…...

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