DDC was engaged by a lender to conduct due diligence on the CEO of a private company prior to a loan / financing arrangement in excess of $100 million. DDC found that the CEO was convicted of bank fraud 20 years ago, and has since left a trail of court cases alleging fraud, misrepresentation and other wrongdoing. In addition, the CEO made numerous claims in writing to the lender that were false or outlandish and unverifiable. Finally, the CEO and his companies did not have the proper licenses and regulatory registrations that were required for the business they were engaged in.
The interesting thing about this assignment is that the CEO has a common name and DDC believes he may have taken steps to obscure his criminal record and litigation history online through the use of aliases, different addresses and even different dates of birth. This assignment was limited in scope due to the client’s budget and our preliminary findings (2 pages of red and yellow flags), but DDC believes this person may have links to organized crime. DDC found several other criminal convictions and incarcerations that may or may not be related to this person (more research was required to definitively determine but our client had received enough information from DDC to make an informed decision).
Peter Barakett, President
DDC Investigations LLC
DDC – Due Diligence Consulting LLC