Financial Background Investigations
Mike Orchard, an Ohio private investigator, and owner of Beacon International Group, Inc., a nationally known and recognized private investigation firm, located in Columbus Ohio, has long advocated the aggressive use of financial background investigations during investors due diligence process. This has never been more apparent than when the Bernard L. Madoff ponzi scheme became public in recent months. See related story at http://fourstarfraud.com/index.php concerning Madoff investors now scrambling to claim innocence.
While conducting an open discussion during a financial seminar with local investors, Mr. Orchard stated, “The common thread, almost without fail, in financial scams is the lack of a proper and complete due diligence process on the part of investors. It is almost beyond comprehension an individual or organization would invest millions of dollars without conducting a comprehensive financial and personal background investigation concerning the principals and individual businesses you intend to invest with. Your attorney, CPA and financial advisor can only provide an opinion concerning the numbers, and remember, those numbers were supplied by the very individual you intend to invest with. If you want a complete picture then a comprehensive background investigation must be completed, without fail.”