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Financial Forensic Report 1.25.2021

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Table of Contents:

  • “CUSIPs R US – Phantom Loan Collateral” Article by Joe H. Dickerson, CFE
  • Cheesy Chicken & Rice Bake Recipe
  • “Learn to Say Yes or No” Short Story
  • Buy “Diagnostic & Prescriptive Judgment Enforcement” Book By International Best Seller Author, Joe Dickerson, CFE,
  • “What Clients Say” About Financial Forensic Services 

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CUSIPs R US
PHANTOM LOAN COLLATERAL

By: Joe H. Dickerson, CFE

Do you want or need to get a significant commercial loan from your bank or other lender? Does the lender require more collateral than you have available? Would they accept good securities (stocks or bonds) to collateralize the loan?

Well, there’s “good news”! If you are so inclined, you can rent the securities complete with CUSIP numbers for verification. (CUSIP is an acronym for the Committee on Uniform Securities Identification Procedures). Each security issue (stocks, corporate, municipal, or treasury security) bears a unique CUSIP number assigned.

The fraud works this way: you rent or lease the securities so you can “enhance” your assets in order to obtain a loan or business deal that you could not have otherwise obtained by claiming these non-existent securities as your own assets. They are listed on your financial statement to enhance your net worth and/or you actually pledge them as collateral for your loan. Either way, this activity is fraudulent, whether or not the securities do, in fact, exist. The scam artists use a valid CUSIP number of a security that trades regularly in the market so you or your lender can get pricing information and confirm that the security was issued.

The scam artists offering these securities for rent cannot produce them upon request. You will hear such excuses as “they are frozen at my bank;” “they are scattered in banks all over the world and would be too difficult to produce;” and “bank secrecy laws prevent such verification.”

Some of the offers to lease Treasury securities involve the use of real Public Debt forms to make the scam seem “official.” The two forms that are commonly used are: PD F1832-Special Form of Assignment for US Registered Definitive Securities, used only by the Bureau of Public Debt and the Federal Reserve Banks; and PD F1071-Certificate of Ownership of United States Bearer Securities, used to validate the ownership of  bearer  notes  and  bonds that are presented for redemption more than  one year after maturity.  In  all cases, the forms are not valid unless the registered securities actually accompany the forms.

Scam artists use these forms as “evidence” that they hold the securities and that the forms can convey ownership or title to the securities listed on the forms.

Beware if you lease or rent securities, as you may be the  victim of fraud.   If you use these securities to “enhance” your financial statement to get a loan, or if you pledge these securities as collateral for a loan, you may be committing, or at least participating in, fraud. If you personally, your bank, or your company has accepted as collateral securities that you believe to be rented or leased, you may be the real victim of a major fraud. Remember— Due Diligence is Good Business!

Copyright all rights reserved. Financial Forensic Services, LLC 2020 Brief quotation with attribution permitted.

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LEARN TO SAY YES OR NO

Good negotiators understand that talking too much is a sign of insecurity and weakness. Sometimes the most potent word in any language is a simple yes or no., without further explanation or elaboration. Most decisions eventually come to that point. In order to do that, you must be able to answer these three questions: (1) Is this decision mine alone to make? If you are the sole decision maker or the final decision maker, don’t hesitate and don’t vacillate, make the decision. And before you do, stand on this Scripture: “If any of you lacks wisdom, let him ask God, who gives to all liberally and without reproach, and it will be given to him.” (2) What will happen if I put off making this decision? In most cases, things will either get better or worse for one or more party. So weigh your decision carefully, realizing that it is likely to lean in favor of the heavier weight of the argument, then decide. At this point, stand on the Scripture: “Trust in the Lord with all your heart, and lean not on your own understanding; in all your ways acknowledge Him, and He shall direct your paths.” (3) Does every decision have a moral and spiritual dimension? When you compromise your convictions or character for popularity or profit, you end up morally and spiritually bankrupt. So hold your values and base your decisions on them.

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Diagnostic & Prescriptive Judgment Enforcement
By: Joe H. Dickerson, CFE

$24.95 + FREE S&H

Please place your book orders by calling
303.974.5610
during normal business hours Mon-Fri 9am-5pm MT.
or email joe@financialforensicservices.comand make an appointment
for a FREE initial review of your judgment. Thank you!

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As Seen In

Financial Forensic Services, LLC is proud to staff Certified Fraud Examiners

Testimonial

“They went overboard in providing excellent service. I was very pleased with what they provided for me as their end product. Financial Forensic Services really understands how a case needs to be put together in order to be presented to a jury. Their PowerPoint presentation tied everything together. It was thorough, it was concise, and it got the job done.”

Jim Thomas
, Prosecuting Attorney

2014-11-11T18:21:32+00:00

Jim Thomas
, Prosecuting Attorney

“They went overboard in providing excellent service. I was very pleased with what they provided for me as their end product. Financial Forensic Services really understands how a case needs to be put together in order to be presented to a jury. Their PowerPoint presentation tied everything together. It was thorough, it was concise, and it got the job done.”

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Tim Gabelhouse
, Attorney at Law

2014-11-11T18:20:41+00:00

Tim Gabelhouse
, Attorney at Law

“As an environmental law firm, we use Joe Dickerson to locate prior business owners and do corporate genealogies. He is persistent, that’s the key to a good investigator, and he has a knack for understanding how people move money and do business. That tells him what rocks to look under. Joe is vastly superior to other investigators in two ways: he lets you know what’s going on and he’s honest with you, because he tells you if there’s really anything there worth pursuing. He is unusually thorough and creative finding people. Joe has earned his fee every time.” “If the information is to be found, then I believe that they will find it. Their service enabled me to do a much better job for my client.”

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Jan Schlichtman
, Attorney at Law

2014-11-11T18:20:55+00:00

Jan Schlichtman
, Attorney at Law

“Joe Dickerson is the industry standard. You can measure the rest by what he does, and I say that without equivocation. Joe has incredible insight into the dark world of fraud. He understands the devious ways in which people perpetrate white-collar crime.”

“When I was general counsel for First Interstate Bank, I used Joe Dickerson for locating assets, investigating behavior and asset discovery. He did excellent work and always got the information I needed without compromising the bank in any way. He’s more thorough and kept in better touch with me than other investigators. I’d give him a grade of 96 or 97 out of 100.”

Frank Brainerd, Retired
Banker/Attorney

2014-11-11T18:20:20+00:00

Frank Brainerd, Retired
Banker/Attorney

“When I was general counsel for First Interstate Bank, I used Joe Dickerson for locating assets, investigating behavior and asset discovery. He did excellent work and always got the information I needed without compromising the bank in any way. He’s more thorough and kept in better touch with me than other investigators. I’d give him a grade of 96 or 97 out of 100.”

“Joe is the most competent investigator I’ve ever found. He has rare ability to find hidden assets. Others claim it, Joe has it. He understands the Rules of Evidence, he knows how to talk to people to develop a fact pattern, and he has a sixth sense for fraud. Joe has unquestioned integrity and delivers value for his services.”

Andrew Quiat
, Attorney

2014-11-11T18:12:51+00:00

Andrew Quiat
, Attorney

“Joe is the most competent investigator I’ve ever found. He has rare ability to find hidden assets. Others claim it, Joe has it. He understands the Rules of Evidence, he knows how to talk to people to develop a fact pattern, and he has a sixth sense for fraud. Joe has unquestioned integrity and delivers value for his services.”

“Joe spends the time to understand the problem from the client’s perspective and from the legal perspective. He is intelligent, tenacious, willing to work as hard as it takes, thorough, well-informed, and just awfully good at what he does.”

Thomas E. Root, 
Attorney

2014-11-11T18:20:05+00:00

Thomas E. Root, 
Attorney

“Joe spends the time to understand the problem from the client’s perspective and from the legal perspective. He is intelligent, tenacious, willing to work as hard as it takes, thorough, well-informed, and just awfully good at what he does.”

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Michael Whalen, 
Businessman

2014-11-11T18:21:13+00:00

Michael Whalen, 
Businessman

“Financial Forensic Services did an excellent job in the way they executed my case. They were very straightforward. They stated what they could do for us and they did it. And, from a personal standpoint, they are excellent. Both my wife and I felt very comfortable working with them.”

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R. Michael Sentel
, Former Section Chief Legal Division, FDIC

2014-11-11T18:13:08+00:00

R. Michael Sentel
, Former Section Chief Legal Division, FDIC

” I was prepared to dismiss a federal case involving millions of dollars against a local individual who claimed to have no substantial assets. After your staff hit the records and delved into the transactions behind the transactions, you discovered the individual to actually be worth a few million dollars. We continued the case to conclusion. We were also very happy with the financial background examinations you conducted of the former directors of two failed national banks. The heart of any civil case is whether there is a pot at the end of the lawsuit. You were our lucky leprechaun in finding such pots.”