Michael Goldman's Forensic Accounting Engagements

Most commercial disputes, as well as many marital disputes, have a financial dimension.  Forensic accounting and expertly presented financial evidence can significantly influence the outcome of such disputes and help ensure a satisfactory result, either in court or through an earlier settlement process.  Successful forensic investigation requires special knowledge and a sharp understanding of business processes.  Michael Goldman has extensive experience designing and working with financial and control systems both as an "insider" and as an external consultant.  His services include advising on the key business and financial issues in a dispute, evaluating the controls and practices in place in a business and the resulting likelihood of asset misappropriation, independent analysis and review of financial data, and providing expert witness reports that set out conclusions and the supporting evidence.  When you cannot find the money, the numbers don't make sense, or you need to prove your case in court, Michael Goldman has the knowledge and experience to help you.

Cases Worked On:

  • Forensic Accountant for the Trustee in the bankruptcy case of a $12 million printing company.  Found the existence of a second set of books, proved gross irregularities in bankruptcy schedules and reports, provided two binders of evidence of cash skimming by management, and obtained close to $3.5 million in judgments and penalties assessed by the bankruptcy judge.
  • Retained by the secured lender to investigate suspicions of both pre-petition and post-petition fraud in a $25 million manufacturer.  Found extensive evidence of cash skimming that was previously missed by both bank and Department of Revenue auditors.  Documented inaccuracies and potential perjury in filed bankruptcy schedules and in statements testified to in bankruptcy court.
  • Retained by a national franchisor to investigate the actions of its largest franchisee.  Found numerous accounting irregularities, unrecorded cash transactions, and fabricated accounting documents.
  • Retained as financial expert in a civil suit against a tree-trimming company contracting for the State of Illinois in a case involving a tree falling onto a driver.  Reconstructed the tree-trimmer's financial and operating records and compared them to the Illinois Department of Transportation records and found enough discrepancies to quickly settle the case at the maximum amount of the tree-trimmer's insurance policy.
  • Court-appointed Examiner in a bankruptcy case involving a franchisor and 27 franchisees.  Reconstructed financial records and reported to the court in issues relating to abuse of trust funds, check kiting, financial statement fraud, and auditor malpractice.
  • Forensic Accountant for the Trustee of a $6 million retail chain.  Prepared analysis and provided evidence of a bust-out scheme and fraudulent conveyances perpetrated by management.
  • Expert witness in the bankruptcy case of a nation-wide roll-up of fertility clinics.  Reconstructed pre-petition financial information in order to perform solvency analysis for fraudulent conveyance claim.
  • Forensic Accountant for the Receiver of an $80 million leasing company.  Reconstructed records and analyzed ownership of collateral that had been pledged multiple times to various parties.
  • Investigated suspicions of loan fraud on a portfolio of residential apartment buildings, providing bank with sufficient cause to accelerate loans on the properties
  • Retained as expert witness in an accounting malpractice case involving fraud.  Reconstructed the work of the outside accountant to determine the extent of the malpractice committed.
  • Consulted to the loss prevention department of a major national franchisor.  Performed lifestyle analysis of franchisees suspected of skimming cash and under-reporting royalties.
  • Forensic accountant for the creditors in the bankruptcy of a metal working company.  Traced loan payments to ascertain that the proper credit was given by various lenders.
  • Assisted in the due diligence review during the acquisition of a $20 million company with accounting irregularities.
  • Retained as expert witness in a legal malpractice case involving potential hidden assets of a divorcing spouse.  Performed lifestyle analysis and retrospective valuation on husband's assets to determine actual net worth at various points in time during and after marriage.
  • Retained in numerous divorce cases with suspicions of hidden assets or misstated income - reconstructed family business records as required in each case. 
  • Designed and taught a 40-hour course on internal control to a $500 million company to assist them in satisfying terms of an SEC consent decree after the discovery of fraud in a major division caused the restatement of five years of financial statements.
  • Assisted a manufacturing company in determining the extent of fraud committed by employees - identified truckloads of scrap steel being shipped from the facility with no accounting or documentation for them.
  • Assisted a major commercial bank in defending against lender liability claims - reconstructed and analyzed records to show that insolvency of the bankrupt subsidiary debtor was unrelated to the loan structure and payment plan negotiated between the bank and the parent company of the creditor.
  • Assisted in a suit filed against the trustee for breach of fiduciary duties - reconstructed seven years of financial records to trace proceeds of estate assets through commingled trusts.
  • Investigate suspicions of fraud committed by the managing member of two real estate development LLCs.  Identified numerous suspicious transactions in the books and records, identified transactions not properly accounted for, and found numerous instances of self-dealing and asset diversion by the manager.
  • Assisted a secured lender in evaluating its position and establishing its strategy in a $150 million leasing company rendered insolvent as the result of management fraud against creditors.  Reconstructed transaction records so that creditors could determine who had the most legitimate claim to assets that had been pledged to multiple lenders.
  • Assisted in a suit against trustee for breach of fiduciary duties - reconstructed bank records of trust accounts to demonstrate abusive over-charging of fiduciary fees by trustee bank.
  • Retained as Chief Restructuring Officer of an insolvent $35 million technology recycling company.  As a part of the case reconstructed financial and operating records to determine the degree of losses caused by the former CEO and Vice President who were accused of embezzlement and negotiated settlements with them.
  • Retained by Chapter 7 Trustees to investigate suspicions of fraud in bankruptcy cases.
  • Retained by commercial lenders to augment their collateral reviews and to assist them in monitoring and negotiating with problem debtors.
  • Testified for a public housing agency against apartment owners not properly following government regulations
  • Consulted to attorney litigating a shareholder oppression suit.  Determined the extent to which income of the company had been hidden or understated, resulting in a case settlement.
  • Evaluated the extent of tax fraud committed over an eight-year period privately held business to help settle a case where one of the shareholders was extorting the other.
  • Retained in a legal malpractice case against a corporate attorney
  • Retained to investigate allegations that the executor of an estate failed to disburse assets properly



Need Help Fast?

Need help with your case?  Call Michael Goldman at 847-940-0745 or email to michaelgoldman@mindspring.com

A Leader in the Field:

Michael Goldman has been published in West's Strategic Alternatives for Distressed Businesses, The Value Examiner, and books by Aspen Publishing, The American Bankruptcy Institute, and the Association of Certified Fraud Examiners.  He has been a frequent speaker on panels and webinars focusing on insolvency topics.

Michael Goldman has been a member of the Editorial Board of The Value Examiner ® since June, 2008.  In January 2012 he was appointed Chairman of the Editorial Board.

Client List:

Click Engagements to see a more complete list of clients that Michael Goldman has worked with.


Michael Goldman has published in the following topic areas:

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 Cases Testified In:

Click here for the listing of cases where Michael Goldman has testified, been deposed, or filed public court documents.

Michael Goldman's CV:

Click here for a copy of Michael Goldman's Curriculum Vitae