On Bauer Business Focus — A conversation on the role of fraud investigators with Andrew Schneider, business reporter for KUHF 88.7 FM.
In early 2009, Allen R. Stanford became the subject of several fraud investigations and was charged by the U.S. Securities and Exchange Commission (SEC) for committing a $8 billion Ponzi scheme.
Jay Brollier, former president of the Association of Certified Fraud Examiners— Houston chapter, stopped by Bauer Business Focus recently to discuss how fraud examiners play a vital role in uncovering cases like Stanford.
“Certified fraud examiners range from police officers, government officials, accountants and attorneys,” Brollier said. “Essentially we have the finance side, the investigation side and the interview side and those things all come together when working a case.”
As fraud cases of high-profile companies continue coming to light, the fraud examination industry is seeing changes too, according to Brollier.
“Fraud examination really has exploded and not only are we getting interest from industry professionals, but we’re having students at high schools and universities wanting to go into fraud examination. This recession has brought to light the importance of fraud examination and in the Stanford case; it looked like we were reactive and now we’re being proactive.”
Click here to hear the full interview.