Customer. Large international bank (Banco GBI) acquired the Brazilian retail bank (BVB).

Problem. An investigation by Wolfe Associates had identified a fraud, corruption, and extortion scheme led by the managers of the Brazilian bank's labor law department in collusion with outside lawyers. The amounts of labor claims were increased and the amounts paid by the bank were divided among those involved.

When Banco GBI bought BVB, it was necessary to hire a large number of market executives through the recruitment division (Headhunters) of an international auditing firm (XYZ Consultants and Independent Auditors), including the labor law managers who ran the labor fraud scheme.

Corruption scheme

Investigation. The investigation found that the hiring of labor legal managers was carried out without proper checks and surveys from the candidates' past. Therefore, the Headhunters they were negligent in these recruitment processes.

The names of those involved were changed for reasons of secrecy. Is your company experiencing unusual losses? Is negligence suspected on the part of consultants or contracted professionals? Wolfe Associates can investigate the negligence and possible collusion of advisors and professionals.

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