Minnesota residents who have been accused of serious white collar crimes may face a very serious set of potential consequences if they are ultimately convicted. Often these cases involve jail or prison time, large sums of money and more. The involvement of the right experts along the way can make a big difference in the outcome of a case. A forensic accountant may well be one of these experts that you may find useful if you are in this type of situation
According to the Forensic CPA Society, a forensic accountant can be thought of as something of a combination of an accountant, an auditor and an investigator. Utilized in civil and business disputes, a forensic accountant may be invaluable in criminal proceedings as well. This person can be used by prosecutors or defendants and is trained to seek out loss and quantify it. The forensic accountant is also tasked with identifying trails to connect the dots in many cases, either confirming a person’s involvement or clearing a person of involvement.
Tracking the path of funds may be done in cases involving charges of embezzlement, securities fraud, insurance fraud, identity theft and more. A forensic accountant may well be called upon to be a witness in a trial as well as to provide evidence that may be used in negotiations or at a trial.
This information is not intended to provide legal advice but to provide an overview of what forensic accounting is and how it may come into play in criminal investigations and trials in Minnesota.