The Investment Fraud Expert Witness

fg_000018183709Investment fraud expert witnesses are skilled in financial areas including audit, accounting, and investments. Their expertise also covers fraud detection, fraud determination, and fraud analysis. These skills are called into play when determining whether an investment advisor intentionally deceived an investor.  In the headlines, biotech investment advisor G. Steven Burrill settled with the SEC on March 30, 2016, and will pay back $4.8M to investors in Burrill Capital Management in addition to a $1M penalty. SEC.gov states:

An SEC investigation found that G. Steven Burrill concealed from investors that he took money from the Burrill Life Sciences Capital Fund III under the guise of “advanced” management fees and spent it on international family vacations as well as gifts, and private jets.

Burrill and his firm Burrill Capital Management agreed to the disgorgement of $4.785 million in investor money he stole for personal use plus a $1 million penalty.  Burrill also agreed to be permanently barred from the securities industry.  The fund’s investors included state pension funds, public companies, and other institutional investors.

The SEC charged Burrill Capital Management’s chief legal officer, Victor Hebert, and its controller, Helena Sen, with assisting Burrill steal the investor cash and attempt to conceal the theft.

The SEC’s continuing investigation is being conducted by fraud experts Heather E. Marlow and John Roscigno and supervised by Tracy Davis in the San Francisco office.

About Karen Olson

Information Professional with twenty years experience in legal, public record, and business research. Fifteen years law firm experience.

No comments yet... Be the first to leave a reply!