Sponsor employees can unwittingly be fraud tools of senior managers or business owners;

  • What one does not know exists, one is unable to disclose – potentially fraud if misleading
  • What one is not looking for, one is unlikely to find – even with data hinting to fraud
  • A data point in isolation is meaningless and liable to be ignored – even data hinting to fraud
  • Prior acceptance by lenders may be disarming answer, but also be fraud hiding in plain sight
  • Lawyers’ involvement gives comfort that one’s employer would not dare attempt fraud
  • Noting inexperienced colleagues in management viewed as favouritism than fraud facilitation
  • Lack of governance structures viewed as intrapreneurial culture, not hints of fraud facilitation
  • Project finance ignorance could make employee unaware they are management’s fraud pawn
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Consequences of Missing Fraud Can be Dire

Consequences

One could find themselves being a witness for law enforcement & lenders seeking to recover their losses.


Consequences

A sponsor’s employee could find himself or herself being investigated, indicted, or worse, convicted of fraud, accessory to fraud and money laundering.


The Warning Signs Were There

The Golden Peaks Capital alleged fraud has criminal implications for bank employees and Golden Peaks Capital employees.

If one does not understand project finance fraud vulnerability, the risk exists that one is a victim, witness or unwitting tool for perpetrators of the fraud.