CASE Study

Tracing Trust Account Funds

Process

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Scott uploaded over 600 statements to Valid8 and had fully verified and reconciled statement data within hours, to gain a complete picture of the situation.
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Money moving between accounts was identified within minutes using patented algorithms.
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Having partnered with Valid8 for just a few days, Scott could see from the visualization of transactions that the defendant was emptying the bank accounts each month, including trust accounts with client funds.
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Results

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Accelerated Analysis: After extracting over 100,000 transactions spanning 35 accounts over seven years, within hours, $480 million of inflows and outflows were analyzed.
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Fraud Identified: Within days, Scott Sims had reviewed 2,633 transfers totaling $144 million and identified multiple millions of stolen client funds.
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Resource Efficiency: A fully reconciled and comprehensive set of transaction data was ready for analysis in less than 24 hours.
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Case Development: Despite the complex methods employed to move funds through a network of accounts, Scott Sims delivered a clear opinion, in partnership with Valid8.
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Customer Testimonials

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