Presses Archive - Lindquist Forensics

Bob's Lessons Learned

Government of St. Lucia

2018 A South Florida businessman wanted to rebuild a Caribbean airport. How things got bungled. BY ADIEL KAPLAN AND AARON LEIBOWITZ Miami Herald Antonio Assenza is a prototypical high-achieving South Floridian. A successful businessman who came to the United States from Venezuela in 1990, he runs a local construction company and has a 5,000-square-foot house behind a wall of hedges and palm trees in Parkland.... Read Article

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Shareholders Seek to Stop Sale of Clico

2020 Shareholders Seek to Stop Sale of Clico Trinidad Tobago Newsday By Jensen La Vende February 2, 2020 Majority shareholders of CL Financial Limited (CLF) have initiated legal action against the State in a bid to stop the sale of Colonial Life Insurance Company (Clico) and British American Insurance Trinidad Ltd (BAT)... Read Article

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Veteran International Investigator ‘Bob’ Lindquist Open to Probing Oil Blocks Awards

2019 Veteran International Investigator ‘Bob’ Lindquist Open to Probing Oil Blocks Awards Guyana News By Stabroek News June 18, 2019 As the opposition PPP/C maintains that it is open to an independent probe of the awards of offshore oil exploration blocks to small, unproven companies during its tenure in office, an internationally recognized forensic auditor is open to taking ... Read Article

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On the Money Trail

2016 On the Money Trail By Pramod de Silva May 15, 2016 Sunday Observer: Sri Lanka When you hear the term ‘forensic,’ you immediately think of a gruesome crime scene where the detectives have to work backwards to piece together the clues to eventually find a suspect. But did you know that it can be used for a variety of other scenarios... Read Article

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Meet the Man Who Sniffs Out Hidden Riches

2016 Meet the Man Who Sniffs Out Hidden Riches You’re a newly-elected leader of a Caribbean nation trying to figure out whether your national treasury was plundered by bribery and corruption from a previous regime. Your first call may be to Bob Lindquist... Read Article

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Sleuth Chases White-Collar Crime

2/15/1985 The Financial Times Bob Lindquist is not your average accountant. His daily auditing work takes him into the world of drugs, murder, pornography, and fraud. Read Article

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The New Crime Sleuths

6/30/1986 MacLean's The New Crime Sleuths Crime: Forensic accounting is a specialty that related more to the world of crime and punishment than to profit and loss. And it is as different from traditional accounting as a coroner's role is from that of a family doctor's. Forensic accounting, a term coined by Lindquist more than a decade ago to define the fledgling specialty, is largely based on the ability to peruse a variety of business documents - - a paper trail - - and discover exactly what happened inside a failed or defrauded company. Now, most major firms offer services...

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The Final Accounting of Johnny O

11/1991 Chartered Accountants Magazine Read Article

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Behind the Scenes

10/1991 The Financial Post Behind the Scenes Forensic accountancy, which was largely pioneered in Toronto by our cover subject Bob Lindquist, is proving to be a field for hot-shots who enjoy playing cops and robbers for real. Forensic accountants can literally save a company millions.

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White-Collar Crime: A beginner’s guide

0/1991 The Financial Post White-Collar Crime: A beginner's guide "What these people don't realize," says Bob Lindquist, "is there is a mind-set to fraud. They might think they're unique, but at the end of the day you've seen them before."

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Business Hands in the Till

7/27/1992 Maclean’s Business Hands in the Till Declared Robert Lindquist, a partner in a forensic accounting firm, “Opening up about fraud is like talking to your kids about sex; it may be awkward, but it has to be done for the health of everyone.”

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Fraud Symposium Calls for a Marriage of Financial and Investigative Groups

4/13/1992 Canada NewsWire Fraud Symposium Calls for a Marriage of Financial and Investigative Groups “The most effective way for business to reduce fraud is to improve its knowledge of fraud,” Canada’s leading forensic accountant, Robert Lindquist, told the First Canadian Fraud Symposium in Toronto today. “We’ve seen so many cases where fraud could have been prevented if only an employer or employee has know how to recognize the basic signs.”

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Phoney filing shakes auditors

3/5/1992 The Financial Post Phoney filing shakes auditors Robert Lindquist, a partner in Toronto and a well-known forensic accountant, agrees such fraud is rare. He said he had come across a few fake audit reports, all in investment scams, but they didn’t use the names of well-known accounting firms, involved private companies, and took place several years ago. Lindquist believes that latest incident has a positive side. “It keeps people on their toes; sometimes regulators tend to rubber-stamp such filings.”

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Cambridge Lectures: Lindquist has ‘sixth sense’ for missing links

9/1993 The Bottom Line Cambridge Lectures: Lindquist has ‘sixth sense’ for missing links When he’s hot on the trail of dirty money, Robert Lindquist doesn’t need to go undercover. “It’s very easy to move around as an accountant, because most people don’t think accountants know anything,” said Lindquist, who enjoys a reputation as Canada’s archetypical forensic accountant. “When it comes to investigations, they’re very convinced that you really don’t know anything, and it’s an excellent cover under which you can work.”

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Detecting Fraud by Numbers

12/1994 Washington Office Detecting Fraud by Numbers “People like to work where they feel there is fairness and honesty,” according to Robert Lindquist, a forensic accounting field pioneer. Creating “a wellness environment” is crucial. “The more a cancer starts to set in, the more you start a deterioration process, which creates a situation in which an employee can commit fraud.”

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The Guys in the White Hats Come Out Sipping and Nibbling

5/28/1994 The Vancouver Sun The Guys in the White Hats Come Out Sipping and Nibbling As for the firm founded by Washington, D.C. – based Bob Lindquist, who was present Wednesday, “It has become what the police have failed to do,” said Palango, “they’re the best private-investigation firm in the world for major fraud and securities.”

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Partners who Steal from Partners

1/1994 National Trial Lawyer Partners who Steal from Partners A pioneer of forensic accounting, Lindquist began his career in Canada in 1972. “White collar crime was really on the rise,” he says, “ and we saw the need for professional accountants to specialize in corporate and criminal investigations, litigation support and the presentation of expert testimony. Read Article

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Private Investigators with Accounting Acumen

2/06/1995 Private Investigators with Accounting Acumen National Law Journal Forensic accountants can aid attorneys in recognizing and ferreting out white-collar crime. Read Article

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Accounting Gumshoes

9/1997 ABA Journal Accounting Gumshoes To be a forensic accountant, “You’ve got to have knowledge of fraud, what it looks like, how it works, how and why people steal,” says Lindquist, “You’re the bloodhound much more than the watchdog.” Read Article

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‘Guru’ called in to probe Indonesian mining scam

5/29/1997 International Accounting Bulletin ‘Guru’ called in to probe Indonesian mining scam Bre-x Minerals Limited, the Canadian company involved in what is probably the biggest mining scandal ever, has hired Price Waterhouse in Washington to investigate what happened. Heading up the probe is Robert Lindquist, considered the ‘guru’ of forensic accounting in Canada.

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Forget Cops and Robbers: It’s Age of the Inside Job Series: 18

5/23/1997 American Banker Forget Cops and Robbers: It’s Age of the Inside Job Series: 18 Because small banks tend to be more centralized than their larger counterparts, “there is greater opportunity for senior people to take advantage of the system,” said Robert Lindquist, a principal in Price Waterhouse’s forensic investigations unit.

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The Scam of Bre-X’s “Mountain of Gold”

5/11/1997 Times Newspapers Limited Sunday Times The Scam of Bre-X’s “Mountain of Gold” How this remote jungle hoax was perpetrated, why it was done and who were the crooked beneficiaries is still far from clear. Bre-X has engaged Canada’s top private investigator, Rod Stamler, a former Mountie, and Robert Lindquist, a top forensic accountant from Price Waterhouse, to find answers.

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Legal Sleuthing

4/24/1997 New York Law Journal Legal Sleuthing The role of the forensic accountants is to interview employees, review internal controls and sift through thousands of documents and records to identify patterns of theft and refine the scope of wrongdoing without tipping off the wrongdoer. “It becomes a game,” said Robert Lindquist, “The wrongdoer is trying to con me and I’m trying to con him.”

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Squeezing the Juice

2/24/1997 Private Asset Management Squeezing the Juice Forensic accountants must have a healthy skepticism in their financial detective work, according to Bob Lindquist, a forensic accountant and principal at Price Waterhouse. Tracking finances can take up to 18 months since the forensic accountant often must reconstruct financial information that has been shredded, thrown out or burned, he says. One of his more difficult cases was a six-month search for the hidden assets of former Romanian dictator Nicholae Ceausescu after his assassination in 1990, he notes.

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Financial sleuth hot on the trail

2/10/1997 U.S.NEWS & World Report Financial sleuth hot on the trail Forensic accountants are in demand these days-They figure in two high profile cases right now: the O.J. Simpson civil trial and the probe into the Swiss banks. Robert Lindquist is a pioneer in the field. What can you say about people and their money? “No matter who they are and where they put their money, people always like to visit it. And that’s often how we catch them.” Read Article

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Stop Fraud From Getting a Foothold in Procurement Processes

12/1998 IOMA Supplier Selection & Management Report Stop Fraud From Getting a Foothold in Procurement Processes Are supplier partnerships spawning grounds for potential fraud activities? Robert Lindquist, in Washington D.C., a leading authority in forensic accounting, believes "familiarity" between a company and its suppliers can lead it to relax prudent internal controls. "In a partnering environment, where both sides face constant pressures to survive and succeed, the combination of weaker controls and intense business pressure can create both the opportunity and motivation for fraud," he asserts. “The awareness and management of this potential exposure is significant to effective fraud prevention,”...

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Doing Something About Corruption

4/1998 FT World Accounting Report Doing Something About Corruption At the international anti-corruption forum held in Miami, Bob Lindquist told a story about ‘an amazing rogue, massive corruption and a fascinating investigation that recovered approximately $7M for the government of Trinidad and Tobago’. Bob Lindquist emphasized that a forensic accountant ‘must know where to probe and how to identify all relevant details because they often become, much later, the critical details that crack a case open’. The accountant should ‘seek out documents until satisfied they no longer exist’ and ‘use the existence of documents to convince fearful and hesitant individuals...

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As Empire Crumbled, Frankel Turned $10 Million Into Diamonds

7/8/1999 The New York Times As Empire Crumbled, Frankel Turned $10 Million Into Diamonds “There’s a lot of interplay between diamond dealers and law enforcement,” said Bob Lindquist, a partner at PricewaterhouseCoopers in Washington, who specializes in unraveling fraud cases. He said he expected that Mr. Frankel would have to turn to organized crime to sell the diamonds at a steep discount. “Cash is a much better alternative,” Mr. Lindquist said. “But lugging around that much cash is a problem.” Read Article

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Bribe Buster’s Here

9/30/2000 Saturday Express, Trinidad & Tobago Bribe Buster’s Here Hired to expose bribes in the O’Halloran scandal, Bob Lindquist is in Trinidad for his first visit in ten years-this time at the behest of Attorney General Maharaj. His job? To do more exposing and corruption busting. Allegations range from overpricing of the new airport to bribing politicians to cross the floor.

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Accountants dig for facts in thriving forensic field

2/4/2000 Washington Business Journal Accountants dig for facts in thriving forensic field “All the information…must pass cross-examination in the witness box,” said Bob Lindquist, a partner at PricewaterhouseCoopers. Lindquist, a forensic accountant for more than 25 years, has been an expert witness on more than 60 occasions. Cross-examination during trials helped him hone skills and identify weaknesses in information gathering and reporting, he said.

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Piarco International Airport

Construction Big-rigging, Money Laundering In September 2000, the Attorney General of the Republic of Trinidad & Tobago required the services of a forensic accountant to conduct an investigation into allegations of corruption and procurement fraud regarding the construction of the country’s Piarco international airport at a cost of some US$110 million. An interim report was issued within two months on the Friday prior to the country’s general election held in early December 2000. The AG’s political party won the election, but the investigation did not continue. Thereafter in 2001, the AG and two other ministers resigned from Cabinet over the...

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The Fraud Examiners

10/01/2003 The Fraud Examiners Journal of Accountancy Sleuthing careers bring CPA's both personal and professional satisfaction. Read Article

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Government in Antigua

Government in Antigua Political Corruption Alleged In March 2004, Baldwin Spencer was elected as Prime Minister of Antigua and Barbuda replacing the former Antigua Labour Party led by Lester Bird. In May 2004, the Attorney General retained Lindquist to investigate allegations of corruption regarding the former government. In March 2006 the Attorney General filed a civil claim in the High Court of Antigua and Barbuda in the “IHI” matter that included Lester Bird, Asot Michael and Bruce Rappaport as defendants. In February 2009, the Attorney General issued a statement to advise of the recovery of US$12 million from the Rappaport...

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Desalcott

Construction Big-rigging, Money Laundering The Desalination Company of Trinidad and Tobago is the largest operating desalination facility in the western hemisphere that was formed to sell desalinated seawater to a government owned agency from 2000 to 2024 on a build, own and operate basis. The Attorney General retained Lindquist to investigate allegations of bid-rigging in a process that lead to award of the plant construction to Hafeez Karamath Engineering Services Ltd and Ionics, Inc., based in the U.S. in August 1999 at a cost of US$121 million. In 2006 criminal charges were laid, but in 2010 after the passing of...

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National Hockey League Players’ Association

Entertainment Financial Advisor: Collective Bargaining Agreement The Executive Director of the National Hockey League Players’ Association, Paul Kelly retained Lindquist as Financial Advisor in regard to the Collective Bargaining Agreement that had been negotiated between the players and the thirty team owners of the National Hockey League. The key issue was to ensure that all “Hockey Related Revenue” was being recorded properly by each of the teams, since the player’s compensation is based upon 57% of the total of such revenues. However this engagement held a bad surprise. It is Sunday August 30, 2009 and I am sitting outside a...

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CLICO

Financial Institution, Insurance Management Fraud Alleged “Central Bank calls in Lindquist in CLICO probe” “…the Central Bank has retained the services of ace forensic investigator Robert Lindquist to sift through the tangled records of financially troubled insurance giant, CLICO, to determine whether it was a case of bad judgment or corporate malfeasance…tasked with the job of finding out what happened to cause the avalanche of financial troubles at the Lawrence Duprey-owned empire…Lindquist had no comment…’No disrespect to you but I am not talking to the press’ was all he said. The investigation will be conducted within the context of the...

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Politician: Ceausescu and subsequent events

Read Robert Horvath

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The Father of Forensic Accounting

2012 The Bottom Line & The Lawyers Weekly-Toronto The Father of Forensic Accounting Bob Lindquist, often referred to as the father of forensic accounting, has proved over and over that crime does not pay. Not his own, but rather bringing high-profile criminals to justice and restitution to many of their victims.. Read Article

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The Puppet Masters: How the Corrupt Hide Stolen Assets Using Legal Structures and What to Do About It

How the Corrupt Hide Stolen Assets Using Legal Structures and What to Do About It A Significant Challenge This report casts light on how corporate vehicles are misused to conceal the proceeds of grand corruption. It describes how providers of legal, financial and administrative (management) services—including banks, financial institutions, lawyers, accountants, and other professionals that are known as trust and company service providers (TCSPs)—can be employed to facilitate such schemes. While this report focuses on the use of front companies and the abuse of corporate opacity to conceal corruption, the weaknesses highlighted in this report are not specific to corruption....

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Prime Minister of Saint Lucia addresses the nation

2012 Prime Minister of Saint Lucia Dr. the Hon. Kenny D. Anthony addresses the nation on relations with China and Taiwan Fellow Saint Lucians, Over the past few months, there has been considerable debate on the future of ties between Saint Lucia and the Republic of China on Taiwan, better known to us all, as simply Taiwan. I have also noted... Read Article

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