Asia Diligence has successfully conducted commercial investigations and due diligence investigations throughout the globe, including global compliance and FCPA compliance due diligence, pre and post transaction investigations, as well as background checks.
Below are a few examples of our successful cases and where the services we offer have proved critical to good business decision making:
BOILER ROOM/FRAUD
A private client had purchased shares in a company in Asia that was reportedly involved in cutting edge technology research and development, but had later been approached by an unknown US company that offered to purchase the shares at a healthy profit. Asia Diligence traced the company in the US and discovered that it was not registered, and bore all the hallmarks of a boiler room operation. Further investigations were conducted on the original technology company and discovered that it was a fraud. Our commercial investigations identified that its products were faked and the company’s endorsements were found to be counterfeit. The individual behind the fraud was identified and his residence was located in South East Asia.
BACKGROUND DECEPTION
A multinational corporation was interested in verifying the background of an individual that they were looking to employ in an important senior role in their South Asian operations. There had been a recent gap in the subject’s work history and the client wished to understand whether there was more to this than he was revealing. Asia Diligence undertook standard pre-employment background investigations and determined nothing of concern or note. However, discreet reputation enquiries by Asia Diligence’s field investigators determined that the individual was considered arrogant and difficult to work with. He had a bad attitude to work and whilst extremely knowledgeable in his role, would not assist his colleagues or juniors. He had been asked to resign from his previous role prior to the company dismissing him following a prolonged negative period of growth.
HIDDEN RISKS
A multinational corporation was in the process of making a business loan to an influential businessman in South East Asia in relation to a proposed joint venture, but wanted to verify his ability to repay the loan. As the jurisdiction in South East Asia offered little public information on an individual’s assets, our local investigators conducted discreet enquiries and surveillance on the subject to identify what property, vehicles, businesses and affluence the subject had. It was discovered that the individual was very influential locally, but this was because he operated as a front man for a powerful mafia family in the area. Whilst he maintained property, businesses and vehicles, and the family maintained significant wealth, their influence and official connections would have made any action against them near impossible and risked significant reputational damage for our client.
CORRUPT PRACTICES
A multinational corporation wished to conduct background checks and integrity due diligence into its resellers and authorized distributors as part of an FCPA compliance program. As part of the global investigations a check in Brazil was conducted on a prospective partner. Field investigators learnt that one of the owners of the company had originally lived in a different province. Traces of the individual in his home province identified that he was involved with another company that had been embroiled in a series of corruption allegations. The individual was not named in any press reports but was identified as a former principal of the company which was now owned by another family member. The allegations stemmed from his time at the company and court cases were set to be initiated in the near future.
ASSET TRACE
A multinational corporation was involved in a legal suit with a client who was refusing to pay a significant sum of money. The company’s main office was in a major country in Eastern Europe and it had important government connections that made it extremely influential and legal proceedings complex and difficult to undertake. Asia Diligence traced the company and identified many subsidiary and related companies throughout the world. Key companies were identified from the researched information and their assets were consequently traced to identify the best companies/jurisdictions to pursue. Subsequently the client was able to press its claim against the company in a more neutral jurisdiction.