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Family Office Series

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WEALTH TALKS

26 Oct 2022

Family Office Fraud

In this episode, we shall discuss financial fraud, particularly in the context of continued growth in private equity investments by Single Family Offices.

Mithun will kindly start the discussion with a background to industry financial fraud risk management strategies undertaken by multi-family offices, EAMs and private banks, and will highlight the practical approach taken by Taurus Wealth when introducing direct investments to clients.

Stephen will then be invited to discuss best practice financial due diligence when considering direct equity and indirect fund investments and will share some red flag indicators of possible financial fraud, particularly when considering the financial records and accounts of a target company or fund.

David and I will end the session with a discussion of the legal fallout when financial fraud is discovered, we will consider typical insolvency remedies, the position of directors of insolvent companies and funds, and possible causes of action against auditors, private banks and regulatory bodies, we shall also consider the difficult position of investors that may be subject to clawback claims for funds previously received from an investment fund that is later found to be a Ponzi Scheme.

As with all Wealth Talks, the session will close with a summary of best practice guidance and an opportunity to ask the panel questions.

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David Brownbill

King's Council

XXIV Old Building

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Mithun Ghosh

Group CRO

Taurus Wealth

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Zac Lucas

Partner

Spencer West

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Stephen Banfield

Partner

KPMG, Singapore

Meet the Speakers:

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