As the liquidating trustee, Jeremiah Foster and Resolute were responsible for the dissolution of Shoot the Moon, a restaurant group operating across three states with fifteen franchises. Through forensic accounting, they identified various financial irregularities over a five-year period, including a kiting scheme, a Ponzi scheme, and merchant cash advance lending activities. In this case study, Mr. Foster will detail the process, his role, and the fiduciary duties of a trustee, providing valuable insights into the complexities of managing such a significant financial undertaking. This session was recorded on March 20, 2024 at the 2024 Fraud & Forensic Accounting Virtual Conference.
Learning Objectives
• Analyze the forensic accounting techniques used to uncover financial irregularities, including a kiting scheme, Ponzi scheme, and merchant cash advance lending activities.
• Understand the role, responsibilities, and fiduciary duties of a liquidating trustee in the context of winding down a multi-state franchise operation.
• Evaluate the step-by-step process undertaken by the trustee to investigate and resolve complex financial issues in the Shoot the Moon case study.
Major Topics
• Forensic Accounting in Complex Liquidations
• Identifying Financial Irregularities and Fraud Schemes
• Fiduciary Duties and Trustee Responsibilities
