As liquidating trustee, Jeremiah Foster and Resolute were tasked with winding down Shoot the Moon, a three-state, fifteen franchise restaurant group. Forensic accounting uncovered sources and uses of funds over a five-year period revealing a kiting scheme, Ponzi scheme, and merchant cash advance lending activities. Hear Mr. Foster walk through the case study, highlighting the process, role, and fiduciary duties of a trustee. This session was recorded on March 20, 4 at the 4 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.
