Tracy explains the purpose of a lifestyle analysis in a divorce case, and the process used to analyze the family’s finances. The lifestyle analysis may be used to determine how much money is required to continue living the lifestyle the parties had while married. It may also be used to find hidden income or hidden assets, and Tracy discusses how she may uncover these items.
Bill Ackman and Pershing Square produced an educational video about multi-level marketing companies and how and why they are pyramid schemes. Yes, I often hear:
- “Pyramid schemes are illegal!”
- “If XYZ Company was a pyramid scheme, the government would shut them down!”
Yes, pyramid schemes are illegal. No, our government generally doesn’t shut down pyramid schemes masquerading as multi-level marketing.
Forensic accounting is sometimes called investigative accounting. There is a fairly wide variety of cases that can be done by a forensic accountant, with all of them having something to do with fraud or litigation. Tracy Coenen talks about some of the most common types of cases in which a forensic accountant will be called in.
One of the common statements made by people in favor of multi-level marketing is that it is just like corporate America. We call MLM a pyramid scheme, and corporate America is a pyramid too! That’s simply not true.
While the SHAPE of the hierarchy of people looks like a pyramid in MLM and in corporate Amercia (one person at the head of the company, a few below, managing several below them, and so on)… that is where the similarities end.
Under the Federal Rules of Evidence, an expert witness is required to use reliable principles and methods in coming to expert opinions. In this video, Tracy discusses the rule and how it might apply to a damage calculation done by an expert witness.
Tracy Coenen, author of “Lifestyle Analysis in Divorce Cases: Investigating Spending and Finding Hidden Income and Assets,” shares her insight on uncovering financial details to ensure that divorce settlements are fair and equitable. A forensic accountant and fraud investigator, Coenen wrote the book to arm lawyers with a powerful tool when valuing and dividing property in complex divorce cases.
Expert witnesses frequently run into Daubert challenges, through which opposing counsel is trying to prevent the witness from providing expert testimony at trial. Tracy Coenen talks about how she handles Daubert challenges in her litigation practice.
Sam Antar, former CFO of massive fraud Crazy Eddie, was interviewed by the Wall Street Journal.
Where does a forensic accountant begin when trying to calculate the income available for support in a divorce or child support case? Tracy Coenen talks about some of the issues encountered in trying to evaluate income.
When a spouse involved in a divorce owns a business, the finances of that business must be analyzed. A Business Lifestyle Analysis can be done to determine the true income of the company and find out where the money is really going. In this video, Tracy Coenen talks about how she analyzes the detailed accounting records of a business.