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By Stéphanie LHOMME, Director and Head of Forensic Investigations and Anti-Bribery Services, Arendt Regulatory Consulting
Much has already been written about the rising incidence of fraud during the COVID-19 pandemic (warning about the risk in early 2020, reporting on the occurrences since, etc.). It’s an all-too-familiar phenomenon in any time of crisis. Fraud has impacted every sector: banking, insurance, industry and private equity. (By “fraud” we mean any form of misappropriation – embezzlement, misuse of corporate assets, corruption, money laundering, etc.)
For private equity funds, misappropriation has occurred in portfolio companies irrespective of financial health, during the acquisition or exit phase, or simply in company life....
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