PHACTOR

Cell Phone Parts Manufacturer – Asset-Based Lending – Conflict of Interest – Mr. Holdeman was engaged by a financial institution to conduct an asset-based lending review of a borrower supplying a Fortune 500 company. In preparation, he conducted a corporate background investigation which identified several undisclosed subsidiaries. He conducted interviews of company officers, identifying an improper side business involving the borrower’s subsidiary and a contracting officer of the Fortune 500 company. As a result, the financial institution (client) terminated the lending facility. 

Food Brokerage Company – Skimming Embezzlement Scheme – Mr. Holdeman was engaged by a client to review transactions involving their investment in a food brokerage company. He reviewed cash disbursements and other business records, and conducted interviews of company executives. He identified a skimming scheme whereby the company was hiding a percentage of sales commissions from the client on each transaction, violating contractual agreements. Mr. Holdeman prepared a report of findings for outside counsel to protect the client’s investment.