Imagine hiring a new executive only to find out that they were involved in a serious crime, have a major conflict of interest, or have a history of suing the companies they work for. Once the ink is dry on their contract, it’s too late to easily change your mind without some type of cost […]
When an executive leaves a company, it creates a vacuum. Often, an entire division of the company is left without executive leadership. The CEO or board has lost a trusted expert to provide advice and guide the company’s operations, finances, HR, technology, or other area. However, the company should never rush the search for a […]
On May 9, 2022, Jorge Gomez joined Moderna, maker of the COVID-19 vaccine, as their new CFO. Gomez was fired just one day later when it was found out that he was the subject of an internal investigation by his prior employer Dentsply Sirona. Gomez’ brief stint at Moderna cost $700,000 in severance pay to […]
According to common practice, a strong compliance program focuses on policies, employee training, books and records and internal controls, onboarding questionnaires and risk ranking of third parties, with a little investigative due diligence at the end. Company compliance programs are primarily driven by paperwork and training programs. Overall, the emphasis is on financial controls with […]
Underscoring the Need for Enhanced Due Diligence Investigations Cassie Chadwick the “Queen of Ohio” in 1897 started an audacious, highly lucrative, and extremely successful con. At a time when women could neither vote, nor take out a bank loan, she led banking institutions to believe she was the daughter and heir of steel-magnate Andrew Carnegie, […]
Board Risks and How to Mitigate Them The board of directors play a critical role in a company. They represent the company and have a fiduciary duty to its shareholders and assets. While they do not participate in the day-to-day activities and decisions of a business, they do oversee strategic planning and company operations, set […]
Foreign Corrupt Practice Act (FCPA) enforcements so far in 2022 total $112.3 million in settlements with three companies: South Korea’s KT Corporation, Stericycle, Inc. headquartered in Illinois, and in June, Luxembourg steel pipe manufacturer Tenaris. Stericycle numbers climbed to over $82 million in combination with settling parallel criminal and civil charges to the US and […]
Times are particularly litigious and reputation can rise or fall with a new scandal or questionable behaviors by key executives. The global economy has opened up a world of opportunity: new talent, supply chains, customers, locations, acquisitions, and resources. In the advent of all this, navigating between opportunity and risk has become more perilous and […]
Good Money, Inc., is a financial technology, or fintech, online digital banking platform, founded in 2018, that directs half of its profits to what it deems social justice and environmental initiatives. Their customers potentially get equity in the company when opening an account and can purportedly build on it through use of the “neobank’s” services. […]
This is part two of Mentoring and Entrepreneurship in Challenging Times. To listen to part one, click here. Candice Tal, CEO of Infortal Worldwide, a leading global security and risk management company, knows what it is like to be an entrepreneur and the challenges of starting a company and weathering difficult times. She has been […]
Starting and growing a business is challenging, but can prove even more difficult during tumultuous times. Business formation requires bringing numerous elements together successfully: dedication, specialization, skill development, resources, careful planning, financial investment, making connections, and the hoped-for clients and customers. Mentorship supports entrepreneurs and people trying to improve their skill sets within their chosen […]
Ongoing global business connections provide great benefits, but also conceal great risks. This has led to increased cooperation between corporations and multi-national government agencies to uncover FCPA violations.
