Forensic Accounting – Berning CPA http://berningcpa.com/ Sun, 02 Oct 2022 03:14:29 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://berningcpa.com/wp-content/uploads/2021/05/default-150x150.png Forensic Accounting – Berning CPA http://berningcpa.com/ 32 32 Roskill model for an independent, successful and internationally respected MACC — Hafiz Hassan https://berningcpa.com/roskill-model-for-an-independent-successful-and-internationally-respected-macc-hafiz-hassan/ Sun, 02 Oct 2022 03:14:29 +0000 https://berningcpa.com/roskill-model-for-an-independent-successful-and-internationally-respected-macc-hafiz-hassan/ Sunday, October 02, 2022 11:11 AM MYT 2 OCT – The Malaysian Anti-Corruption Commission (MACC) should be placed under the authority of Parliament to make it a truly independent institution, says DAP Chairman Lim Guan Eng said. According to Lim, who is also an MP for Bagan, the MACC is currently not independent as it […]]]>

Sunday, October 02, 2022 11:11 AM MYT

2 OCT – The Malaysian Anti-Corruption Commission (MACC) should be placed under the authority of Parliament to make it a truly independent institution, says DAP Chairman Lim Guan Eng said. According to Lim, who is also an MP for Bagan, the MACC is currently not independent as it falls under the direct jurisdiction of the Prime Minister.

The MP for Bagan was responding to reported remarks by MACC leader Azam Baki that MACC would not be as free to act as it is now if it had to first seek permission or receive instructions from Parliament legislators.

Azam said MACC was already an independent institution. Yet the MACC was not at liberty to release details of its investigation into Court of Appeal Judge Nazlan Ghazali, which has concluded. Azam said he could not release instructions from the Attorney General’s Office (AGC).

“We have completed our investigation. As I said before, I am not in a position to report what other instructions we have received from the AGC,” he said. Told journalists during a dialogue session on the MACC Cakna show with Northern Zone Media.

An independent MACC should have full investigative powers without having to receive instructions from the MCO. He should also have the power to prosecute, as advocated by many including Dewan Negara Chairman Dr Rais Yatim.

For an independent MACC with investigative and prosecutorial powers, the “Roskill” model can be considered. The first to use it is the UK’s Serious Fraud Office (SFO).

The “Roskill” model is named after Lord Roskill, who was the chairman of a committee set up in the 1980s to research ways to improve the investigation and prosecution of complex fraud cases.

Bribery and bribery are types of fraud, and the two very often go hand in hand. The report recommended that investigators and prosecutors be brought together under one roof to enjoy the benefits of both professions throughout the investigation and prosecution.

Using Roskill’s model, an anti-corruption agency (ACA) like MACC should have full investigative powers as well as powers to prosecute its cases – like the UK Serious Fraud Office SFO, created under the Criminal Justice Act 1987 and became operational in 1988. The law establishes the SFO whose main objective is to investigate and prosecute serious and complex cases of fraud, bribery and corruption.

The Director of the SFO has the power to investigate any alleged breach which he reasonably believes to involve serious or complex fraud – Article 1(3).

The Director is also empowered to (a) initiate and cause to be conducted any criminal proceedings that he deems related to such fraud; and (b) take over the conduct of such proceedings at any time – Section 1(4).

The investigation and prosecution of cases by the SFO is carried out by multidisciplinary teams made up of lawyers, investigators, forensic accountants, outside lawyers and other experts. This joint structure of investigation and prosecution teams has come to be known as the “Roskill” model. (See FSO Annual report and accounts 2021-2022. Section 1(15) and Schedule 1(3) of the Criminal Justice Act 1987 require the annual report to be presented to Parliament)

The SFO is unique in that its officers are integrated into the investigation from the start. He investigates and pursues his cases. While the SFO is overseen by the Attorney General of the United Kingdom (AG), there is a protocol which defines the relationship between the AG and the SFO and other officers in the UK’s Officers’ Departments.

The protocol can be consulted here.

The UK SFO is now regarded internationally as a model of best practice for the type of cases investigated and prosecuted. The SFO has developed strong technical skills in forensic accounting, electronic forensics, financial investigations and prosecutions.

The model has been adopted by New Zealand (NZ) whose parliament passed the Serious Fraud Office Act in 1990 to establish its own SFO which will be the primary law enforcement agency to investigate and prosecute serious financial crimes.

The New Zealand SFO was created in response to the fallout from the 1987 stock market crash and subsequent economic recession in New Zealand, which exposed fraud on a scale never before seen in the country. The SFO also works to prevent financial crime and corruption in the public sector by providing advice and raising awareness.

According to its official website, corruption in the public sector is a high priority type of case for the SFO. The country is proud that the reputation of its corruption-free public sector provides the economy with a competitive edge, driven by business confidence, as the real and perceived cost of doing business here is lower than many of our business partners and competitors. https://sfo.govt.nz/fraud-and-corruption/what-we-do/public-sector-fraud-and-corruption/

It’s no surprise that the island nation in the southwest Pacific Ocean has always been ranked at or near the top of Transparency International’s (TI) Corruption Perceptions Index (CPI), its low Corruption levels in the public sector contribute much to this success. Last year, New Zealand was class tied with Denmark and Finland with a score of 88/100 on the CPI.

It is therefore curious that the head of the MACC should say that it was not necessary for MACC to be given the power to prosecute.

On his 55th birthday, MACC chief says Commission should emphasize prevention, enforcement and education as high-impact priorities in its fight against corruption over the next five years. Perhaps the MACC should also examine and propose a “penambahbaikan” to the legal framework in which it operates.

As Azam himself said, a lot of things had to be looked at for MACC to be feared and become a respected ACA. One of the many things is a successful model that the SFO in the UK and New Zealand is providing by adopting the internationally respected Roskill model.

If New Zealand’s bill banning the sale of tobacco products to anyone born from 2009 inspired our own Generational End Game (GEG) bill – the Tobacco and Tobacco Control Bill 2022 – why not his SFO?

Happy 55th birthday, MACC. Semoga bertambah baik, bertambah mutu.

* This is the personal opinion of the author or organization and does not necessarily represent the views of malaysian mail.

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Manufacturers Data, Opportunity, Import and Export Scenario, Regions https://berningcpa.com/manufacturers-data-opportunity-import-and-export-scenario-regions/ Thu, 29 Sep 2022 09:53:00 +0000 https://berningcpa.com/manufacturers-data-opportunity-import-and-export-scenario-regions/ In-depth market knowledge PUNE, Sept. 29, 2022 (GLOBE NEWSWIRE) — The ‘Virtual CFO Market’ research report focuses on global information that can help in making decisions on the current market situation. Considering the influence of COVID-19 on the global Virtual CFO market, this report has analyzed the impact from a global and regional perspective. From […]]]>

In-depth market knowledge

PUNE, Sept. 29, 2022 (GLOBE NEWSWIRE) — The ‘Virtual CFO Market’ research report focuses on global information that can help in making decisions on the current market situation. Considering the influence of COVID-19 on the global Virtual CFO market, this report has analyzed the impact from a global and regional perspective. From production end to consumption end in regions such as North America, Europe, China, and Japan, the report emphasizes market analysis under COVID-19 and corresponding response policy in different regions.

The Virtual CFO Market Report Contains:-

  • Comprehensive Overview of the Global Virtual CFO Market

  • Key country data and analysis for USA, Canada, Mexico, Germany, France, UK, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil and Saudi Arabia, etc. progress of key regional virtual CFO markets such as North America, Europe, Asia-Pacific, South America, Middle East & Africa

  • Description and analysis of the Virtual CFO market potential by type, in-depth analysis, disruption, application capacity, end-use industry

  • impact assessment of the most significant drivers and restraints, and global Virtual CFO market dynamics and current trends in the business

  • Detailed profiles of major major industry players including. Pasquesi Partners,GJR Consulting,Dukhon Tax and Accounting LLC,KG Virtual CFO,Amy Northard,Hovland Forensic & Financial,Invensis,vcfo,Quality Back Office,Summit CPA,My Virtual CFO,Graber&Associates,Bikham Finance,Gardner&Capparelli,Preferred CFO

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Virtual CFO Market Segmentation:-

The latest report from the researcher provides an in-depth insight into the global Virtual CFO Market covering all its vital aspects. It ranges from a macro overview of the market to micro details about market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, market analysis. Porter’s five forces, value chain analysis, etc.

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Virtual CFO market segments help decision makers guide product, sales, and marketing strategies, and can fuel your product development cycles by informing how you deliver product offerings for different segments.

The major Virtual CFO Product Types covered in this report are:

Most widely used downstream areas of the Virtual CFO market covered in this report are:

Market Segment by Region/Country comprising:-

  • North America (United States, Canada and Mexico)

  • Europe (Germany, UK, France, Italy, Russia and Spain etc.)

  • Asia-Pacific (China, Japan, Korea, India, Australia, Southeast Asia, etc.)

  • South America (Brazil, Argentina, Colombia, etc.)

  • Middle East and Africa (South Africa, United Arab Emirates, Saudi Arabia, etc.)

Virtual CFO Market Key Players:-

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Key Benefits of the Virtual CFO Market Research Report:

  • Types, Applications, Regions and Key Players Covered in the Study

  • Sector Drivers, Constraints and Opportunities Covered in the Study

  • Recent industry trends and developments

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  • Historical, current and projected market size, in terms of value

  • In-depth analysis of the AI ​​Artificial Intelligence Chips market

  • Sales, price, revenue, market share and growth rate are covered in the report. Sales channels, distributors, merchants, resellers, etc. are covered in the report.

Detailed TOC of Global Virtual CFO Market Research Report 2021 – Impact of COVID-19 on the Market

Contents

1 Virtual CFO Overview and Market Overview

1.1 Objectives of the study

1.2 Introducing the Virtual CFO

1.3 Virtual CFO Market Scope and Market Size Estimation

1.3.1 Market Concentration Ratio and Market Maturity Analysis

1.3.2 Global Virtual CFO Revenue and Growth Rate from 2016 to 2026

1.4 Market Segmentation

1.4.1 Types of Virtual CFO

1.4.2 Virtual CFO Applications

1.4.3 Research regions

1.5 Market Dynamics

1.5.1 Virtual CFO Industry Trends

1.5.2 Virtual CFO pilots

1.5.3 Virtual CFO Market Challenges

1.5.4 Virtual CFO Market Constraints

1.6 Industry News and Politics by Regions

1.6.1 Industry News

1.6.2 Industry policies

1.7 Mergers and acquisitions, expansion plans

1.8 Virtual CFO Industry Development Trends under COVID-19 Outbreak

1.8.1 Global COVID-19 Status Overview

1.8.2 Influence of COVID-19 Outbreak on Virtual CFO Industry Development

2 Industry Chain Analysis

2.1 Upstream Raw Material Supply and Demand Analysis

2.1.1 Global Virtual CFO Major Raw Materials and Upstream Suppliers

2.1.2 Analysis of sources of raw materials

2.2 Key Players of Virtual CFO

2.2.1 Manufacturing Base of Virtual CFO Major Players in 2020

2.2.2 Market Breakdown of Major Players in 2020

2.3 Manufacturing Cost Structure Analysis of Virtual CFO

2.3.1 Production Process Analysis

2.3.2 Manufacturing Cost Structure of Virtual CFO

2.3.3 Virtual CFO Labor Cost

2.4 Market Channel Analysis of Virtual CFO

2.5 Major Downstream Customers by Application

3 Global Virtual CFO Market, by Type

3.1 Global Virtual CFO Revenue and Market Share by Type (2016-2021)

3.2 Global Virtual CFO Production and Market Share by Type (2016-2021)

3.3 Global Virtual CFO Revenue and Growth Rate by Type (2016-2021)

3.3.1 Global Virtual CFO Revenue and Growth Rate

3.3.2 Global Virtual CFO Revenue and Growth Rate of Financial Consulting

3.3.3 Global Virtual CFO Revenue and Financial Forecast Growth Rate

3.4 Global Virtual CFO Price Analysis by Type (2016-2021)

3.4.1 Explanation of price trends of different product types

Explore the full report with a detailed table of contents here: https://proficientmarketinsights.com/TOC/19339712#TOC

1. To study and analyze the global Virtual CFO consumption (value) by key regions/countries, product type and application

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Four former police officers sit on Caely’s board, including the executive chairman https://berningcpa.com/four-former-police-officers-sit-on-caelys-board-including-the-executive-chairman/ Tue, 27 Sep 2022 15:10:54 +0000 https://berningcpa.com/four-former-police-officers-sit-on-caelys-board-including-the-executive-chairman/ KUALA LUMPUR (September 27): After the removal of seven directors last month, Caely Holdings Bhd – a lingerie maker that has been embroiled in shareholder fights and investigations by the Malaysian Anti-Corruption Commission (MACC) over the past five months – has named two other former police officers to the council. Caely announced the appointment of […]]]>

KUALA LUMPUR (September 27): After the removal of seven directors last month, Caely Holdings Bhd – a lingerie maker that has been embroiled in shareholder fights and investigations by the Malaysian Anti-Corruption Commission (MACC) over the past five months – has named two other former police officers to the council.

Caely announced the appointment of Chong Seng Ming, 61, and Datuk Mior Faridalathrash Wahid, 60, as independent, non-executive directors of the company.

Both have over 40 years of experience as police officers with a background in law, according to the company’s filing with Bursa Malaysia.

Meanwhile, Ng Keok Chai, who served 36 years in the Royal Malaysian Police, is the company’s executive chairman. The company clarified that the appointment was made on August 29, instead of September 29, as noted in the earlier filing dated September 2.

“He (Ng) specializes in criminal investigation in a variety of areas including commercial crime, general crime and forensic accounting, with extensive experience in management and special operations,” Caely said in the fellowship filing.

With Datuk Kang Chez Chiang, four former police officers now sit on Caely’s board of directors. Kang had served the police for 39 years and six months.

Teluk-based lingerie maker Intan has also named a former auditor, Kenny Khow Chuan Wah.

In a separate scholarship filing, Caely said Khow, 47, had more than 13 years’ experience as an auditor with PricewaterhouseCoopers (PwC) Malaysia, including two years on secondment with PwC London.

Other directors who joined recently are Leong Seng Wui and Krishnan Dorairaju.

Interestingly, three members of Caely’s board of directors, namely Ng, Khow and Leong, are also the directors of Green Packet.

Meanwhile, its two directors, Ng and Kang, sit on the board of glover Hong Seng Consolidated Bhd, which coincidentally Khow had resigned as executive director in March this year.

Ng and Khow are directors of CSH Alliance Bhd (formerly known as KTG Bhd).

Khow is also a director of MMAG Holdings Bhd.

Ng, 63, currently sits on the board of Ingenieur Gudang Bhd (formerly Dynaciate Group Bhd).

Leong, an executive director, is among 12 defendants in the lawsuit Caely filed last month to recover allegedly misappropriated funds amounting to RM30.55 million.

Other defendants include Kok Kwang Lim, Valhalla Capital Sdn Bhd, Datuk Seri Goh Choon Kim – who is the largest shareholder, holding a 21.05% stake; plus former group chief executive Datuk Chuah Chin Lai and his wife Datin Fong Nyok Yoon, and six others.

Fong, the founder of Caely, stepped down as non-executive director last month. It holds a 7.38% stake.

Caely’s statement said these 12 defendants collectively owned 50.01% of the equity.

Caely, along with its wholly owned subsidiary Caely (M) Sdn Bhd (CMSB), also sought exemplary damages from Chuah and Fong for alleged breach of fiduciary duty during their tenure as directors of the two companies.

He sued the other 10 defendants for their conspiracy with Chuah and Fong to cover up the embezzlement and breach of fiduciary duty.

However, the seven directors behind the lawsuits have been removed from their positions. It is unclear if the new board members will continue the case in the future.

To recap, all seven trustees were ousted as the High Court ruled last month that resolutions to remove board members were passed at the EGM.

Koo Chen Yeng, the daughter of second shareholder Datuk Seri Tee Yam @ Koo Tee Yam, is among the ousted directors. Tee Yam owns 19.12% of Caely’s capital.

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Identified soldier of the Second World War (Collier, G.) | New https://berningcpa.com/identified-soldier-of-the-second-world-war-collier-g-new/ Sat, 24 Sep 2022 18:00:00 +0000 https://berningcpa.com/identified-soldier-of-the-second-world-war-collier-g-new/ After the war, the American Graves Registration Command (AGRC), the organization that searched for and recovered fallen American personnel, conducted several searches in the area, but in 1950 none of the remains found around Opheusden could be identified as Collier. It was declared unrecoverable in November 1950. In 2015, DPAA historians began work on a […]]]>
After the war, the American Graves Registration Command (AGRC), the organization that searched for and recovered fallen American personnel, conducted several searches in the area, but in 1950 none of the remains found around Opheusden could be identified as Collier. It was declared unrecoverable in November 1950.

In 2015, DPAA historians began work on a comprehensive search and recovery project focusing on Operation MARKET GARDEN missing persons. During this work they analyzed information about X-3324 Neuville, an unknown set of remains recovered from Opheusden Civil Cemetery in 1946 and interred in what is today known as the Ardennes American Cemetery and Memorial , a American Battle Monuments Commission site of Neuville-en-Condroz, Belgium. Following multidisciplinary analysis by DPAA historians, forensic anthropologists, and odontologists, it was determined that X-3324 could possibly be Collier. These remains were exhumed in April 2019 and sent to the DPAA laboratory at Offutt Air Force Base, Nebraska, for examination and identification.

To identify Collier’s remains, DPAA scientists used dental and anthropological analyzes as well as circumstantial evidence. In addition, scientists from Armed Forces Medical Examiner System used mitochondrial DNA (mtDNA) analysis.

Collier’s name is recorded on the walls of the Missing at the Netherlands American Cemetery, a American Battle Monuments Commission site of Margarten, in the Netherlands, as well as others still missing from the Second World War. A rosette will be placed next to their name to indicate that they have been considered.

Collier will be buried on November 12, 2022 in his hometown.

For family and funeral information, contact the Army Casualty Office at (800) 892-2490.

The DPAA thanks the American Battle Monuments Commission and the US Army Regional Mortuary-Europe/Africa for their partnership in this mission.

For more information about the Department of Defense’s mission to report on Americans who go missing while serving our country, visit the DPAA website at www.dpaa.mil or find us on social media at www.facebook.com/dodpaa Where https://www.linkedin.com/company/defense-pow-mia-accounting-agency.

Collier’s staff profile can be viewed at https://dpaa-mil.sites.crmforce.mil/dpaaProfile?id=a0Jt0000000XexoEAC.

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Crypto Binocs Tax Reporting App Helps Users Navigate Regulations TechCrunch https://berningcpa.com/crypto-binocs-tax-reporting-app-helps-users-navigate-regulations-techcrunch/ Thu, 22 Sep 2022 06:31:06 +0000 https://berningcpa.com/crypto-binocs-tax-reporting-app-helps-users-navigate-regulations-techcrunch/ Tracking tax compliance for cryptocurrency can be tricky, especially since many laws are new (or haven’t been written yet). That is why Binocs Was found. Users integrate their exchanges and wallets, and Binocs provides tax reporting and other accounting details. The startup announced today that it has raised $4 million to expand into markets including […]]]>

Tracking tax compliance for cryptocurrency can be tricky, especially since many laws are new (or haven’t been written yet). That is why Binocs Was found. Users integrate their exchanges and wallets, and Binocs provides tax reporting and other accounting details. The startup announced today that it has raised $4 million to expand into markets including the US, UK and Australia. The round was led by BEENEXT and Arkam with participation from Accel, Saison Capital, Premji Invest, Blume and Better Capital.

Founded in May 2022 by Tonmoy Shingal and Pankaj Garg and based in Bangalore, Binocs currently has over 1,000 users, including retail and institutional investors who need to perform forensic accounting and risk management. Binocs is currently tax compliant in the US, UK, Australia, South Africa and India, and plans to add more markets next month. A portion of the funding will be used for Binocs’ product development and go-to-market teams for retail and institutional investors.

Binocs can provide a tax report in less than 30 minutes. It also tracks return on investment, profit and loss and capital exchanges, as well as taxes on derivatives, lending and borrowing on CeFi and DeFi. The app can give users details of fees and withholding taxes already paid on transactions so they understand how much tax they have to pay.

Binocs founders Tonmoy Shingal and Pankaj Garg

Shingal told TechCrunch that Binocs is meant to be a bridge connecting transactions on the blockchain to the “equivalent Web2 compliance world,” especially as the number of DeFi coins, exchanges, trade types and protocols grows. .

There are currently approximately 300 million crypto usersand which is expected to reach around 1 billion by the end of this year.

The founders of Binocs point to coin market cap figures which indicate that the total market capitalization of the crypto industry has grown from around $325 billion in September 2020 to $1 trillion in September 2022. With a mixed tax around 20%the overall tax debt is around $70 billion, a figure that could reach $300 billion by 2026.

Shingal, CEO of the startup, said that crypto hedges and investment funds often operate with a small number of employees, and the tax calculation and compliance process is time-consuming as they have to mine data from multiple sources, merge it and then adhere to different compliance and reporting regulations for each type of transaction.

“The traditional approach is to manually gather and interpret blockchain exchange records. Doing what requires a lot of time, sophisticated knowledge about crypto transactions, local regulations,” Shingal said. “This task is time-consuming and error-prone, which could be costly.”

He added that regulation is one of the biggest obstacles to greater crypto adoption, with around 15-20 countries currently taxing crypto investments, and 60-70 doing so in the future.

Binocs also plans to build more apps on top of its algorithm as it gets more data. “We see ourselves as a data company that understands what’s going on in crypto transactions and is building applications for multiple use cases in the future,” Shingal said.

Binocs is currently in pre-revenue and will monetize by operating on a freemium model, as well as a business plan for commercial investors.

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Hundreds of Tennessee service members are still missing https://berningcpa.com/hundreds-of-tennessee-service-members-are-still-missing/ Mon, 19 Sep 2022 14:28:52 +0000 https://berningcpa.com/hundreds-of-tennessee-service-members-are-still-missing/ NASHVILLE, Tenn. (WKRN) – They are gone, but they are not forgotten. The third Friday of each September is designated as National Prisoner of War/MIA Appreciation Day. The remains of nearly 82,000 Americans remain missing, the vast majority from World War II. The accounting agency Defense POW/MIA lists 1,399 Tennesseans as still missing in conflicts […]]]>

NASHVILLE, Tenn. (WKRN) – They are gone, but they are not forgotten. The third Friday of each September is designated as National Prisoner of War/MIA Appreciation Day. The remains of nearly 82,000 Americans remain missing, the vast majority from World War II.

The accounting agency Defense POW/MIA lists 1,399 Tennesseans as still missing in conflicts involving World War II and the Korean and Vietnam Wars. The agency’s website lists 60 service members whose remains have been identified.

The missing come from cities large and small. They include Donald Dycus of Davidson County and JP Anderson of Centerville, both crew members aboard the USS Indianapolis, a cruiser sunk by a Japanese submarine in shark-infested waters in 1945.

Hershel Tate of Grundy County and James Harold Lynch both served in the military during the Korean War. Both were taken prisoner in separate battles and both died in captivity. According to the website of the accounting agency POW/MIA, no soldiers’ remains have been repatriated or identified.

Joe Lynn Delong and Larry William Cotten, of McMinnville and Nashville respectively, disappeared during the Vietnam War. Delong was taken prisoner after a shootout in 1967, and it is believed he was killed as he tried to escape. Cotten disappeared after his F-4 Phantom was shot down while on a mission over Laos in 1970.

In most cases, every missing service member has been pronounced dead, but the search for their remains and efforts to use forensic tools to make a positive identification remain alive.

You can still search for US military personnel listed as unaccounted for on this site.

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Austin Remembers Prisoners of War and Missing Servicemen > US Department of Defense > Defense Department News https://berningcpa.com/austin-remembers-prisoners-of-war-and-missing-servicemen-us-department-of-defense-defense-department-news/ Fri, 16 Sep 2022 21:24:20 +0000 https://berningcpa.com/austin-remembers-prisoners-of-war-and-missing-servicemen-us-department-of-defense-defense-department-news/ Secretary of Defense Lloyd J. Austin III met today at the Pentagon with former prisoners of war, families of military personnel missing, and personnel from the nations’ embassies. The DOD works with these groups to account for missing U.S. personnel and to commemorate National Prisoner of War/MIA Appreciation Day. “Each year on National Prisoner of […]]]>

Secretary of Defense Lloyd J. Austin III met today at the Pentagon with former prisoners of war, families of military personnel missing, and personnel from the nations’ embassies. The DOD works with these groups to account for missing U.S. personnel and to commemorate National Prisoner of War/MIA Appreciation Day.

“Each year on National Prisoner of War/MIA Appreciation Day, we come together to honor the American military personnel who have been taken into captivity to support the families of the missing and missing and to renew our commitment to bringing home home our fallen heroes,” Austin said.

The Department of Defense is working to recover those captured or lost in action, Austin said. And earlier in the week, the remains of one of those servicemen finally made it home.

In 1943, during World War II, Austin said, Army Air Corps Lt. Col. Addison Baker led pilots in a low-level attack on enemy-controlled oil fields near Ploiesti, In Romania.

“As he approached his target, the enemy hit him with an anti-aircraft shell,” Austin said. “His plane was burning and damaged and he could have chosen to land. But Lt. Col. Baker was determined to complete the mission. He continued until he reached his target. But afterwards his plane damaged tragically crashed into the city below.”

The following year, Austin said, Baker received the Medal of Honor for his actions, although the whereabouts of his remains were unknown at the time. The Department of Defense, Austin said, never stopped looking for Baker.

“Nearly eight decades after his daring mission, scientists at Offutt Air Force Base used innovative forensic techniques to identify him,” Austin said. “This week his family was able to say goodbye and bury Lt. Col. Baker in Arlington.”

Members of Baker’s family were present at the event. Austin met with them privately before the ceremony.

Thanks to the work of the Defense POW/MIA Accounting Agency, Austin said, thousands of POWs and service members missing in action have been recovered and their remains returned to loved ones pending news in the United States. Still, there’s still a lot to discover, Austin said. The DPMAA estimates that up to 81,000 US service members and civilians are still missing.

“It’s a monumental task, but it’s also a sacred obligation,” Austin said. “Everyone who serves in the United States military makes a solemn pledge to this country, and so does their families. And this country makes a solemn promise to them in return: to provide as many accounts as possible to every missing person. duty and it is our solemn obligation to do good for those who sacrifice themselves to defend our security and our democracy.

Defense POW/MIA Accounting Agency experts, Austin said, are working in 46 countries around the world, searching for remains and using cutting-edge forensic technology to identify the missing. However, the DPMAA does not do this work alone.

“Our partners around the world are providing vital support, including former enemies turned friends,” Austin said. “And family and veterans service organizations, many of whom are here today, shine a spotlight on this important cause and help us fulfill our commitment to those who have served.”

Today, the DPMAA estimates that more than 81,000 Americans remain missing from past conflicts ranging from World War II to the Gulf War. So far in fiscal year 2022, the DPMAA has conducted nearly 100 missions to 37 countries searching for U.S. personnel and has identified more than 140 missing U.S. service members, each with their own story.

“These are stories of pain and uncertainty, but also of hope, endurance and relief, when long-sought answers are finally found,” Austin said. “The black and white flag we fly in honor of our POWs and MIAs carries a simple yet powerful message to the families of those still missing and to all who serve, and to our nation. And this message is that we can never We will never give up hope and we will never stop working to find answers and bring our departed home.

National Prisoners of War Appreciation Day / MIA was established in 1979 by a proclamation signed by President Jimmy Carter. Since then, each subsequent president has issued an annual proclamation commemorating the third Friday in September as National Prisoner of War/MIA Appreciation Day.

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Restoring Broken Trust | Community https://berningcpa.com/restoring-broken-trust-community/ Thu, 15 Sep 2022 03:23:00 +0000 https://berningcpa.com/restoring-broken-trust-community/ TABOR — A former church worker has pleaded guilty to embezzling $324,000 from two Catholic parishes in Tabor and Lesterville. Steven Bares appeared in federal court on Tuesday where he pleaded guilty to one count of wire fraud. Bares initially pleaded not guilty but changed his plea at this week’s hearing. Court records indicate that […]]]>

TABOR — A former church worker has pleaded guilty to embezzling $324,000 from two Catholic parishes in Tabor and Lesterville.

Steven Bares appeared in federal court on Tuesday where he pleaded guilty to one count of wire fraud. Bares initially pleaded not guilty but changed his plea at this week’s hearing.

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Grant Thornton Nigeria reaffirms its strategic positioning and admits new partners https://berningcpa.com/grant-thornton-nigeria-reaffirms-its-strategic-positioning-and-admits-new-partners/ Sun, 11 Sep 2022 14:48:21 +0000 https://berningcpa.com/grant-thornton-nigeria-reaffirms-its-strategic-positioning-and-admits-new-partners/ Grant Thornton Nigeria reiterated its focus to defy convention and deliver breakthrough solutions to clients and stakeholders by maintaining its positioning as a Strategic Growth Market (SGM) within Grant Thornton’s global network with the admission of Mr. Kingsley Opara and Mr. Lateef Emiola as new partners in the audit and advisory service lines respectively. Today’s […]]]>
WILL 2 APP ADVERTISEMENTS

Grant Thornton Nigeria reiterated its focus to defy convention and deliver breakthrough solutions to clients and stakeholders by maintaining its positioning as a Strategic Growth Market (SGM) within Grant Thornton’s global network with the admission of Mr. Kingsley Opara and Mr. Lateef Emiola as new partners in the audit and advisory service lines respectively.

Today’s rapidly changing business environment needs an equally agile force to scale and succeed in the ecosystem, hence the rapid response and authentic showcase of business flexibility in the face of changing needs with the admission of two other partners.

“We are ambitious, for our customers and for ourselves. We do not just provide basic satisfaction, but our results are based on quality standards that enable our employees and customers to go beyond the limits and achieve their ambitions,” says Dr. Ngozi Ogwo , Managing Partner and CEO.

Kingsley Opara, who has been made a partner in the line of auditing services, is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) with over fifteen (15) years of professional experience in the financial services industry. He joined Grant Thornton Nigeria in 2008 and manages a diverse portfolio of clients in non-governmental/not-for-profit organizations as well as businesses that span various sectors and industries such as information technology, media and telecommunications, Oil and Gas, Marketing and Communication, Transport, FMCG Organizations and Real Estate.

Lateef Emiola, a forensic accountant and chartered banker for more than 20 years, has earned the status of “specialist” in the identification of business risks. He plays an important role in helping clients achieve success by offering his expertise in certified processes (cash, accounts receivable, accounts payable, inventory, fixed assets, etc.) and the controls that surround these processes.

Emiola has been with the firm for thirteen (13) years and currently works with local and multinational clients providing quality advisory services in the areas of accounting, budgeting, payroll and tax structures, governance audit, risk-based internal audit and fraud risk management. surveys and other services.

Grant Thornton Nigeria is confident that their collective expertise and experience in the corporate world will be a great asset to clients as they join existing partners to provide the best solutions to business challenges.

Grant Thornton International Ltd (GTIL) is a network of independent insurance, tax and advisory firms made up of more than 62,000 people in 135 countries and recognized by financial markets, regulators and international standards bodies. Grant Thornton Nigeria is a member company of the network, with over 150 employees and four offices across three locations.

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Allegations persist at Tri-County Mall https://berningcpa.com/allegations-persist-at-tri-county-mall/ Tue, 06 Sep 2022 23:36:00 +0000 https://berningcpa.com/allegations-persist-at-tri-county-mall/ CINCINNATI — As developers scramble to turn the old Tri-County Mall into an upscale apartment community, a city and bank in Kazakhstan are asking a federal judge in New York to help them recover $30 million dollars lost at the mall in a 2013 money laundering scam. Their lawsuit alleges that money stolen from BTA […]]]>

CINCINNATI — As developers scramble to turn the old Tri-County Mall into an upscale apartment community, a city and bank in Kazakhstan are asking a federal judge in New York to help them recover $30 million dollars lost at the mall in a 2013 money laundering scam.

Their lawsuit alleges that money stolen from BTA Bank in Almaty, Kazakhstan, was laundered in a court-ordered sale by a limited liability company that concealed its true ownership from the county court system. Hamilton.

Developer Michael VanHuss said the controversy would not affect his ability to secure financing for the $1.1 billion Artisan Village project. Former FBI agent Kerry Myers agreed that the property was protected from liability.

“Fraud goes with the doer, not with the property,” said Myers, an assistant professor at the University of South Florida who teaches forensic accounting and business law at Muma College of Business. “They can get money back from the defendants if they get a judgment. But they will not be able to come in and claim the land.

Myers said the case shows how easy it can be for international money launderers to avoid detection while moving cash between LLCs in different countries.

“It’s a problem in the system,” Myers said. “When you travel to different countries, it makes communication between investigators much more difficult.”

Beyond that, Myers said the case was just a compelling story.

“He’s got it all,” Myers said. “There is a hunting accident. There is a murder. It has, you name it. Someone should make a documentary of it. There is Donald Trump. There’s a bit of everything involved.

The case centers on the exploits of Félix Sater, a convicted felon turned government informant who helped the FBI catch gangsters and the U.S. military track down Osama bin Laden, according to unsealed court records in 2019.

Sater is best known for helping the Trump Organization secure a licensing deal in Moscow for a skyscraper, a lawsuit that drew the attention of several investigations into Russian interference in the 2016 presidential election. .

The Tri-County Mall charges are part of a larger conspiracy complaint in which Sater allegedly worked with former BTA bank chairman Mukhtar Ablyazov and the family of former Almaty mayor Victor Khrapunov. to conceal and launder $440 million subject to freezing orders worldwide.

And then there’s the alleged murder. The lawsuit claims Ablyazov killed his former partner in a death originally reported as a hunting accident.

A 2015 trial against Ablyazov is due in November, while the Sater case has a hearing on October 17 to discuss the next steps in the case.

All three defendants deny the money laundering allegations in court records. Ablyazov and Khrapunov claimed to be victims of political persecution.

Sater told BuzzFeed News in 2020 that he bought Tri-County Mall debt in 2013 with Khrapunov’s money, but he denied that the transaction amounted to money laundering.

“These were legitimate transactions,” Sater said. “That’s why they were in my name. Professional money laundering, you really don’t launder money using your own name unless you’re just a complete jerk. You know, you rob a bank, try not to leave your business card behind.

According to the lawsuit, Sater formed a limited liability company to purchase the mall’s $204 million mortgage, which Wells Fargo Bank sold at a discount as it pursued a foreclosure in Hamilton County. But he took several steps to conceal his involvement in the deal, including:

  • Sater made a business partner, Daniel Ridloff, the managing director of Tri-County Mall Investors LLC because “Sater’s notorious criminal history would have raised a red flag to counterparties in a deal of this magnitude.”
  • Ridloff submitted a “materially false” bid package to a Wells Fargo real estate adviser that did not disclose the involvement of Sater and Ilyas Khrapunov, Ablyazov’s son-in-law and Victor Khrapunov’s son-in-law.
  • Sater and Ridloff “submitted false documents to the law firm representing TCMI as part of the tri-county agreement to transfer nearly $30 million in stolen funds to the real estate law firm’s escrow account for the ‘ticket purchase’.

Hamilton County records show Daniel Ridloff’s signature on a loan sale agreement dated May 23, 2013. But nowhere in the local court filing says what allegedly happened the day before the loan sale.

“The Mortgage Broker’s role in assisting TCMI with obtaining financing came to an abrupt end on May 22, 2013, when the Mortgage Broker received the commissioned background investigation report on TCMI and its parent companies,” the statement said. federal lawsuit. “Sater testified that the background investigation report revealed ‘fronts for (Ilyas) Khrapunov’.”

This meant that the money for the transaction did not come from a loan, but from an account controlled by Khrapunov, according to the complaint.

Hamilton County records show American Pacific International Capital Inc. bought the mall for $45 million in a court-ordered sheriff’s auction on July 18, 2013.

“It is important to the conspirators that the funds from the resale of the ticket were to be paid by the county sheriff who auctioned the ticket to an account designated by TCMI. This arrangement effectively laundered nearly $30 million in stolen funds at a profit of 50%,” the federal complaint said.

Tri-County Mall Investors LLC was represented in the Hamilton County sale process by Stephen Griffith and other attorneys from the Taft law firm. Griffith referred the I-Team’s questions to New York attorneys pursuing cases against Sater. The Hamilton County Sheriff declined to answer questions about the 2013 transaction.

Myers said the Tri-County Mall case is likely not a sign of systemic problems in Hamilton County.

“I teach money laundering. That’s my expertise,” Myers said. “I am not currently aware of any other money laundering transactions in the State of Ohio. I believe this is likely a one-time incident.

He also said that a lot could be expected from law enforcement authorities to spot this type of fraud.

“Did the sheriff have a legal obligation to go further and investigate whether the debt he was seizing had been purchased from the proceeds of embezzlement from Central Asia? No, the law does not put the sheriff under that obligation,” Myers said.

Two laws passed by Congress in 2020 should make it easier for the FBI and the Treasury Department to uncover this type of fraud, Myers said. Although rules are still being developed by the Financial Crimes Enforcement Network, companies will soon be required to provide ownership details to FinCEN “every time someone starts an LLC,” Myers said. “It will be useful and easier for FBI agents, Treasury agents, FinCEN and investigators to be able to see what is going on.”

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