Alex Kwechansky, DABFA
Biography - Client Accomplishments - Business Education Activities
Biography
Alex Kwechansky is a Diplomate, specialist in business fraud discovery, resolution and prevention, in accordance with the American Board of Forensic Accounting.
He has been conducting business fraud investigations and crisis management since 1972. His work focuses on fraud discovery, resolution and financial distress for companies and individuals. This work protects investors and lenders holding concerns about a management’s activities and contractual compliance in privacy and confidentiality.
He developed The BOMA Test to enable a lender, investor or stakeholder to conduct a confidential desktop forensic examination to uncover financial anomalies and deceptive activities within their holdings.
His career began with accounting firms where his assignments included investigations into fraudulent client activities.
In 1981 he began creating and teaching business operations courses and seminars at the University of California, Los Angeles (UCLA). He used his experience to create a course about building and controlling a retail chain. A second course taught about building and maintaining business control. In 1991 he created the course, Detection of Fraud in Business and Finance that he taught until 2004.
From 1994 - 2009 he taught Continuing Professional Education seminars for accountants (CPA) and attorneys on topics of deceptive client practices and discovery and resolution of untraceable business fraud.
He speaks regularly to business and fraud investigation groups on topics of business and investment fraud.
He has been quoted and interviewed extensively in the media.
His book, Never Underestimate Who Can Cheat You! is an essential guide for business fraud detection and his web site, BusinessFraudAdvice.com provides fraud advice for businesses, investors and individuals.
Client Accomplishments
Cash fraud against privately owned retail chain. The crime was stopped and internal controls were designed and implemented.
Examinations of capitalization and structure of companies to determine actual and represented investment and control.
Determined realistic operating and liquidation inventory quantities and valuations.
Provided crisis management for individuals with critical creditor,
asset and taxation situations. Continued to manage the clients.
Determined causes of failure in financial and operational control of
privately held retail, manufacturing and distribution companies.
Structured non-bankruptcy reorganization.
Developed and implemented avoidance procedures against kickbacks and payoffs including interception of the activities.
Determined when "two sets of books" and skimming practices were used
to avoid contractual and ownership obligations. Developed oversight
procedure of senior executive.
Identified and reorganized funds and transactions deceptively co-mingled through a multi-company organization.
Identified actual revenues and expenses of all-cash businesses. For acquisition due diligence.
Conducted viability/operational risk examinations for buyers of existing businesses.
Detection of overpaying schemes to defraud shareholder.
Detection of abusive executive cash advances. For lenders and creditors.
Examined and resolved disputes and claims of suspicious financial
activities between shareholders, family members and in divorce
situations.
Restored operational integrity and control after theft of corporate I.D. caused by C.F.O.
Designed operational inventory control from receipt through
processing and sale for liquid inventory being siphoned by employees.
Restated expense and revenue allocations for real estate management firms.
Detected co-mingled funds and audit improprieties in condominium management.
Detected and reported excessive and suspicious expenditures during real estate construction.
Examined excessive and unsubstantiated investment claims during real estate development.
Traced suspicious real estate transactions during divorce proceedings.
Isolated unrecorded labor service provided off-the-books.
Discovered undisclosed clients due to lawsuit.
Determined concealed inventory to deflate net income.
Discovered written-off inventory that was sold at above original value. Enabled manufacturer to recover from insolvency.
Detected overstated inventory to reduce actual operating losses.
Strategic plans for control of investments for retailing, manufacturing, real estate development and service providers.
Detected falsely charged services due to forged signatures. Plaintiff’s claim was denied.
Business Education Activities
Present full day seminars for Continuing Professional Education credit
for accountants and attorneys
Topics focused on untraceable fraud and deceptive client tactics.
UCLA Extension Business School: 1981 - 2004
Designed and Taught:
Prevention and Detection of Fraud in Business and Finance
Expansion and Control of Entrepreneurial Businesses
Planning for Growth and Control of Retail Chain Stores
“Never Underestimate Who Can Cheat You”
Book written to support courses and seminars
California State University, Northridge: 1982-1984
How to Read and Understand Accounting and Financial Statements
