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 We are grateful to have the opportunity to provide you this valuable information via our monthly e-newsletter and our
unparalleled forensic accounting and
fraud investigative services.
The goal of this e-newsletter is to provide you critical, inside information that will help you "follow the money" in business disputes, divorce cases, fraud cases, estate matters, corporate embezzlement and to prevail when defending an IRS criminal case. We will do this by sharing the knowledge we have from our 25+ years of experience as an IRS Special Agent and 15 years as a private investigator / forensic accountant.
We take special care to ensure the information we provide you in "The Beacon" is the latest and most current information available.
In this edition, we have addressed the records and testimony necessary in financial cases.
We want to write about topics
that
will assist you in prevailing with criminal IRS cases. Please e-mail us your topics of interest to
[email protected]
We encourage you to share our e-newsletter with others in your sphere of influence.
Sincerely,
Edmond J. Martin
Principal, Chief Investigator
Certified Fraud Examiner (CFE)
Texas Certified Investigator (TCI)
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Necessary Records and Testimony in Financial Cases
 Most financial investigations either civil or criminal involve tracing the movement of money. As it relates to civil allegations, matters may involve theft or embezzlement of company assets, assets hidden in a divorce case, diverting business profits to personal use, and/or allegations in criminal cases involving income tax evasion and money laundering charges. A lawsuit must be filed, and discover requested, in order to get the evidence needed to prove or disprove the allegations in civil cases.
Generally the following records need to be secured:
- For each bank account: the signature card, hand-kept check registers, bank statements (Checking and Savings) with canceled checks and withdrawals by debit card or ACH, and deposit slips. Where necessary, wire transfers or cash in or out tickets from the bank should be secured. Also, Personal and Business financial statements submitted for loans requested from the bank. Loan documents requested should include the promissory note and related documents and a loan payment history. In the case of a divorce tracing involving separate and community property, all bank documents available should be acquired.
- For each brokerage account: the account application, and the brokerage statements reflecting the trading history is necessary. If a cash management account is part of the brokerage account then the source of deposits and the checks issued should be obtained. Where necessary, wire transfers in and out of the account and transfers to or from other brokerage accounts should be documented. Also, documents relating to any Line of Credit backed by the equity in the brokerage account should be obtained, including Personal and Business financial statements submitted for loans requested of the Line of Credit. Loan documents including the promissory note and related documents, and a Line of Credit payment history should be obtained. In the case of a divorce tracing involving separate and community property, all brokerage documents available should be acquired.
- For each credit card the application and statement for the prior 5 to7 years revealing the date, amount and payee for each transaction and the payments on the accounts. In the case of a divorce tracing involving separate and community property, all brokerage documents available should be acquired.
- For each year's income tax returns for the individuals filing jointly and any small business corporations or partnerships for a three to five year period in which the client has an interest should be obtained. In the case of a divorce tracing involving separate and community property, all tax returns available should be acquired. If necessary, past returns for seven years can be acquired by submitting an IRS Form 4506 and for a transcript of account IRS Form 4506-T.
- Books (hand kept or computerized) reflecting business and/or personal transactions including income and
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About Us
Serving your needs is our priority.  At Sage Investigations we are dedicated to serving our clients nationally, to help them navigate the difficulties of dealing with the IRS, and other complex (forensic) financial fraud investigations both civil and criminal. By narrowing our focus to our primary strength of following the money, we steer our knowledge, efforts, and experience to financial issues. We help our clients propel their cases forward by assisting in the review, acquisition, and organization of financial records, evaluating the elements of their cases, and helping create winning strategies. Through the use of our proprietary advanced financial investigative technology we analyze complex financial data quickly, easily and efficiently, saving our client's time and money. Sage handles all cases with altruism, professionalism, honesty, integrity, passion and respect. When you hire Sage, you hire a team of professionals with skill and knowledge that helps you have more effective solutions. We are innovative with our DIO cutting edge technology, and perform every investigation in an orderly and organized manner to develop a clear investigative roadmap and deliver a quality work product. The compass that guides us is strong leadership and accountability. Learn more... Contact Us
P.O. Box 160161
Austin, TX 78716 Phone: 512-659-3179 Fax: 512-328-6878 Email: [email protected] www.sageinvestigations.com Texas License #A10803 |
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