LEGAL COUNSEL
INTERNATIONAL PRIVATE CLIENT
Family Office Series
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.
​
​
David Brownbill
King's Council
XXIV Old Building
Mithun Ghosh
Group CRO
Taurus Wealth
Zac Lucas
Partner
Spencer West
Stephen Banfield
Partner
KPMG, Singapore
Meet the Speakers:
Listen to the podcast
View the recording
View the slides
EXPLORE WEALTH TALKS
Governance & Succession
Family Business
Family Office Series
The Governance & Succession series of talks is designed to bring together industry experts to explore the challenges and opportunities faced by business families when considering governance and succession to the family business.
The emergence of the Single Family Office is also explored, along with the need for families as well as business professionals to understand the need for robust family office governance and succession plans.
Private Client Series
The private client series of talks bring together senior industry practitioners to gain insight and understanding on legal, tax and private wealth issues facing HNW individuals and clients across Asia, particularly in light of the continuing COVID-19 crisis.
In each talk, we shall consider the application of one country's divorce, succession and matrimonial property laws both within the country and also where there is an International element.