Forensic Accounting Exposes $6 Million Fraud at Feeding Our Future At Intellex Forensics, we know that fraud can affect any organization, including non-profits. A recent case involving Feeding Our Future, a Minneapolis-based non-profit, serves as a stark reminder of how forensic accounting plays a crucial role in uncovering financial misconduct and bringing those responsible to justice. The Case: $6 Million Fraud at Feeding Our Future A former executive at Feeding Our Future and a business consultant recently pleaded guilty to […]

The Critical Role of Quality of Earnings in M&A: Balancing Buyer and Seller Interests In the high-stakes arena of mergers and acquisitions (M&A), the Quality of Earnings (QoE) report has emerged as an indispensable tool for both acquirers and sellers. This financial deep dive transcends traditional audits by scrutinizing the sustainability, reliability, and operational drivers of a company’s earnings. For buyers, QoE analysis mitigates the risks of overpayment and post-acquisition surprises by separating core earnings from financial noise. For sellers,

The Family Business Dilemma: Five Forensic Fixes for Smooth Transitions Family businesses are the heart and soul of the American economy, yet only 30% survive to the second generation. Additionally, the number drops to 12% for the third generation and 3% for the fourth and beyond. Why? Transitions are hard, and often bring conflict, unclear finances, and emotional turmoil. When leadership changes, without a clear plan, legacy and trust can crumble fast. But there’s hope. Forensic experts, like the Intellex

Graceland Fraud Scandal: A Suspicious Mind Almost Sold Elvis’ Estate Elvis Presley’s beloved Graceland was almost caught in a scam fit for a jailhouse rock. However, a Missouri woman recently pleaded guilty to a scheme that nearly led to the fraudulent auction of the King’s legendary home. If that’s not enough to leave you all shook up, wait until you hear the details. According to The Guardian, the scammers cooked up phony documents claiming that Graceland was being sold due

In a significant development in the Feeding Our Future fraud case, five out of seven defendants have been found guilty on multiple counts, including conspiracy to commit wire fraud, wire fraud, and money laundering. This case has been one of the largest non-profit fraud schemes in United States history, involving over $250 million intended for child nutrition programs. Quick Overview of the Fraud Scheme Feeding Our Future, a nonprofit organization was established to help provide meals to underprivileged children during

The 25-year sentence for Bankman-Fried sent shockwaves through the crypto world, underscoring the legal risks amidst industry growth. In the world of cryptocurrency and finance, few names have captured as much attention as Sam Bankman-Fried. From his meteoric rise as the founder of FTX Exchange to his involvement in various philanthropic endeavors, Bankman-Fried’s journey has been nothing short of remarkable. However, recent headlines have cast a shadow over his legacy, as news broke of his 25-year prison sentence. Let’s delve