News | May 27, 2025
Secretariat Announces Newest Managing Directors
Congratulations to our recently promoted Managing Directors: Deven Bowles, Erica Greulich, Greg Johnson, Zack Kilgore, Gareth McDermott, Tony Nedinsky, Michael Pogue, and Ivy Tse.
The year-end financial reporting process of a British university identified financial irregularities that prevented the completion of its statutory audit. The absence of a signed-off audit by the submission deadline would have breached financing covenants resulting in the university defaulting on its finance agreements.
The university’s finance manager confessed to having embezzled funds over a 30-year period but would not provide the details as to how the fraud had been concealed, where it sat within the accounting system, or the value of the fraud. The investigation required a forensic review of the accounting system for suspicious transactions together with an understanding of the accounting processes in place which could have been subverted to allow the fraud to be disguised. Ultimately transactions running into the millions of pounds were identified within an array of creditor balances that accounted for much of the fraud.
The findings of the investigation allowed the external auditors to correct the financial statements to provide an accurate position of the university’s financial position which, in turn, ensured compliance with the finance agreements. In addition, the findings were used by the police to secure the conviction of the finance manager and to freeze assets which were subsequently recovered for the benefit of the university.
Secretariat Announces Newest Managing Directors
Congratulations to our recently promoted Managing Directors: Deven Bowles, Erica Greulich, Greg Johnson, Zack Kilgore, Gareth McDermott, Tony Nedinsky, Michael Pogue, and Ivy Tse.
Guardians of Finance Integrity
The Federal Reserve Bank of New York (FRBNY) has cemented its role as a global financial watchdog, using its influence to safeguard the integrity of the U.S. dollar and the broader international financial system. Recent regulatory actions related to Iraq and Libya demonstrate a proactive approach to combating illicit financial flows, setting a precedent for oversight in other high-risk jurisdictions, including Syria, Lebanon, Gaza, and Ukraine, which are likely to undergo major post-conflict reconstruction.
Jury Trial Victory for Marathon Oil Co. in Landmark $123.7M Force Majeure Case
Managing Director Bob Broxson provided expert reports, deposition, and trial testimony on behalf of Marathon Oil Co. in a high-stakes, precedent-setting contract dispute arising from a natural gas delivery impeded in 2021 by Winter Storm Uri.