Financial Executive Caught in Likely Kickbacks Scheme
Forward Risk was engaged by an interested party to investigate the background of a financial executive who had been involved in an aviation financing deal.
In addition to engaging in public records and online media research, Forward Risk leveraged open source satellite imaging to corroborate key findings in this case, which ultimately allowed us to uncover several major red flags regarding the individual of interest.
Our investigation revealed that the subject had obtained a personal mortgage for his home from a professional associate.
In the early 2010s, the mortgage, originally valued in the low millions, was amended three times, increasing significantly in value each time, with the final amendment modifying the amount to nearly ten million dollars. Follow-up research additionally uncovered a key foreclosure proceeding, wherein the subject was accused of failing to pay back the nearly seven-figure mortgage.
After the subject defaulted on his mortgage loans, courts issued a foreclosure on his property, transferring ownership to the associate from whom the subject originally obtained the mortgage. However, our use of open source satellite image searching revealed a car in the driveway of the property that matched the same vehicle that the subject’s wife owned, which prompted follow-up public records research.
Records confirmed what we suspected: the subject’s wife had registered her primary sole proprietorship to this property’s address, even after the foreclosure. As such we were able to determine that the subject and his spouse had continued to reside at the property.
These findings suggest that the mortgage provider was likely receiving kickbacks from the subject in exchange for preferential loan rates. As a result, our client was able to avoid investing with these two individuals.