In 2009, Adriano Sotomayor was on the hunt for money and an unsuspecting individual. Sotomayor was a con artist, and found his mark in the nuns of the Sisters of the Rosary of Fatima convent in New Jersey. He called one of the nuns and told her that he was a New Jersey priest and that a member of his parish had just named her the beneficiary of $2.1 million. All she had to do was wire a payment of cash over to a New Jersey business called Flex Account to cover the charges of legal proceedings and taxes.
The nun didn’t have the money up-front, so Sotomayor told her to bring in her friends and family to lend her the money she needed before she received her lucrative payment from the will. Unsuspecting, she convinced many who were close to her to give her the money she needed. As you could imagine, none of these people got their money back, and Sotomayor never gave the nun the money he promised.
This is just one of many possible con artist scams that are pulled on a regular basis in America, and just one of many scams that could have been avoided with the help of a professional background search from a private investigator. Background searches can help in situations like these as well as to find out personal and business histories of subjects.
Strangers getting involved with your relatives
As in the case of Sotomayor and the unnamed nun, strangers who enter the lives of the vulnerable often do not have their best interest at heart. If you know someone new has entered the life of a relative of yours such as your mother or father, investigating their history can ensure the truth of their claims and interests.
Many con artists will attempt to get close to elderly individuals with malicious interests such as defrauding them or getting them to place them in their wills. Investigators such as Lauth Investigations Inc. can conduct background searches that can find out if the subject is using an alias, has a criminal record or has defrauded others in recent history.
Pre-business transactions
Background investigations can also be extremely useful when searching into the history of potential business partners. Before engaging in a merger or business transaction, a thorough and professional background search can look into the financial history of potential partners to ensure that they are worth trusting.
Professional investigations can dig up if other companies have had trouble with civil or criminal lawsuits in the past or are concealing damning information such as bankruptcies.
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Pre-Marital background searches
Sometimes even those who we trust the most are worth investigating as well. Before entering an agreement as major as a marriage, a background search can be extremely useful. Professional investigators can find out if the bride or groom to be is concealing any serious information that a spouse would want to know.
This involves criminal records, past relationships that have been concealed and financial information. Using a background search from a professional investigation firm may be the only way to make sure a potential spouse is completely truthful and can ensure that key information is revealed before the wedding and not after the fact.
As companies continue to compete in a highly competitive global market, many choose to expand their businesses overseas in order to increase production and cut costs. These opportunities are major commitments and can end poorly if the right type of information isn’t collected. Before any contract is signed, companies need to know everything they can about a potential business opportunity. Factors such as a corporation’s past performance, suppliers, finances, and clients can all have a hand in the outcome of a business transaction. Lauth Investigations specializes in conducting corporate due diligence investigations that will detect these liabilities and ensure a beneficial investment for your company.
When Should a Company Conduct a Due Diligence Investigation?
A company should begin collecting data after a possible transaction with another institution has been established. However, an investigation should occur prior to the signing of binding contracts. The types of deals that require a due diligence investigation may include:
Mergers and Acquisitions
Oversea Expansions
Business Partnerships
Large Investment Opportunities
Corporate investigations are especially valuable to industrial and manufacturing corporations who are looking to expand their operations internationally. A 2013 CFO Research Survey found that 83% of companies consider overseas expansion a top priority. By conducting an inspection of potential clients and partners, these companies can prevent future lawsuits and unexpected costs. During negotiations, a thorough business investigation can also lower the price by disproving unfounded claims made by a corporation.
What Does a Due Diligence Investigation Look For?
Corporate intelligence plays a heavy role in due diligence investigations. It not only involves the gathering of information about a corporation, but the analysis of that data as well. Lauth Investigations will uncover intelligence about:
Business Reputations
Financial History
Litigation and Disputes
Past Investments
Bank Accounts
Public Records
Hidden Assets
Past and Current Employees
A variety of techniques are employed when detecting the liabilities that may exist within a corporation. These techniques may involve surveillance, financial investigations, interviews, and background checks. Lauth Investigations is dedicated to acquiring every piece of information necessary for conducting a thorough background check on a business.
Why Choose Lauth Investigations?
Lauth Investigations has private investigators established in three prime locations: Indianapolis, IN, Denver, CO, and Tampa, FL. According to a report done by the National Association of Manufacturers, these states have a total of 32,361 manufacturing establishments. Out of these three states, Indiana came in first, with its manufacturing accounting for 98.5% of its exports. Many of the companies with establishments in these states, like Bausch & Lomb or Adidas Group, rely on international ties. Others are considering the possibility of mergers and acquisitions with corporations worldwide.
Recognizing the need for a due diligence investigation is the first step in carrying out a successful business transaction. The second step is choosing an investigator that can detect and analyze the risks that others may overlook. With 20 years of experience, Lauth Investigations can work with your company to determine what services and investigations will best suit your needs.
In 2009, Adriano Sotomayor was on the hunt for money and an unsuspecting individual. Sotomayor was a con artist, and found his mark in the nuns of the Sisters of the Rosary of Fatima convent in New Jersey. He called one of the nuns and told her that he was a New Jersey priest and that a member of his parish had just named her the beneficiary of $2.1 million. All she had to do was wire a payment of cash over to a New Jersey business called Flex Account to cover the charges of legal proceedings and taxes.
