Customer. Swedish multinational company, chemical manufacturer. Hiring by the Group's Corporate Board of Directors.
Problem. An internal audit discovered internal fraud of $10 million through payroll manipulation, generating payments for fictitious employees. The embezzled money went through a third party. At the time, the group was facing a hostile takeover attempt. The corporate board was anxious to avoid a scandal involving one of the main subsidiaries implying control failures.

Corporate corruption scheme to favor executives. Links with organized crime.

Solution. The investigation found links to organized crime. The embezzled money was used to purchase cocaine that was distributed via a prostitution ring. The proceeds of the crime ($60 million) were laundered through a Swiss bank. The corporate board was advised on crisis management.

Do you have a company in Brazil? The company is losing money through fraud and embezzlement. Is there suspicion of incompetent management, misconduct on the part of top executives? Is there evidence of organized crime involvement? Does the case involve corporate strategic interests? Wolfe Associates can investigate mismanagement and embezzlement and advise the company on crisis management.
The names of those involved were not revealed for reasons of secrecy.

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