Crime Doesn’t Pay!
Finance Executives as Corporate Fraud Gatekeepers and Investigators
Discussion Moderator: Tim Anglim
Panelists: Matthew Boxer | Robert Kleeger | Christopher Santomassimo, Esq. | Douglas Veivia
Organizations face the threat of corporate fraud and other crimes on a daily basis – which must mean that the adage, “crime doesn’t pay,” is not believed by all. Threats lie not only outside a company’s gates, but also within them. CFOs and other finance executives are, for many organizations, responsible for building protective measures, investigating improper activities, charting responses, and interfacing with government agencies. Participate in this dynamic and interesting panel discussion about how finance executives handle instances of corporate fraud, including commentary by a certified fraud examiner, former Assistant United States Attorney, general counsel, an FBI Special Agent who has investigated cases with criminal implications, and others.
Timothy (Tim) Anglim, founder and president of YesCFO, is an accomplished chief financial officer who is widely recognized for his crisis management expertise. With over 25 years experience leading accounting and financial functions, he has played a key role in numerous turnarounds and reorganizations, as well as the rapid expansion, of numerous companies. He has personally led strategy and negotiations for debt restructuring, addressed severe cash liquidity situations, and resolved issues concerning the misstatement of financial statements. Tim is also highly regarded for his effective leadership and human resource skills.
Just prior to forming YesCFO, Tim was chief financial officer of Marotta Controls, Inc., a global supplier to the defense, space and commercial aerospace sectors. In this crisis management situation, he turned around the Company’s critical liquidity situation and stabilized vendor relationships to enable continued production, then addressed pricing issues and led successful negotiations on a new credit facility. These, and other operating improvements, led to a successful turnaround for the business.
From 2004 to 2005 Tim was chief financial officer of Vira Manufacturing, Inc., a leading provider of store fixtures and wall systems for retailers. There he stemmed a severe cash flow situation and positioned the organization for recovery from a severe industry downturn. From 1995 to 2004 Tim was chief financial officer of Amrod Corporation, a $300 million continuous cast copper rod manufacturer and MAC Products, Inc., a $20 million manufacturer of electrical power transmission products. In this role he reengineered the financial functions of both companies, led the successful implementation of an organization-wide ERP system and uncovered a major embezzlement perpetrated by a senior officer.
Previously, from 1993 to 1995, Tim was chief financial officer at Hoke, Inc., a family-owned manufacturer of valves and fittings, and Victory Group, a packaging manufacturer, where he uncovered a $2.5 million fraud scheme, the partial recovery of which allowed the company to successfully exit chapter 11. He was vice president, finance, at American Metal Moulding from 1988 to 1993, where he co-managed a pre-packaged bankruptcy filing and was appointed by the court to wind down the affairs of the remaining bankruptcy estate. Earlier in his career he was controller, accounting manager, cost accounting manager, and cost analyst for several divisions of North American Philips.
Tim is co-author of A/R: It’s an Asset – Most of the Time, published by the New Jersey Society of CPAs in March 2006. His work has been featured in “Accounting Firms Mine Growing Niche in Forensics” in Accounting Today; in US News and World Report’s “Careers to Count On: Forensic Accounting: Sherlock Holmes meets Enron”; and in “The Case of the Shrinking Margins” published in Financial Fraud.
Tim earned his M.B.A. in finance from Hofstra University School of Business and a B.S. in accounting from New York Institute of Technology. He is a Certified Public Accountant (CPA) and a Certified Management Accountant (CMA) and a member of the American Institute of Certified Public Accountants, the New Jersey Society of Certified Public Accountants, the Institute of Management Accountants and the Association for Corporate Growth. He is a member of Financial Executives International (FEI), for which he is a past president of the New Jersey Chapter and is currently active at the national level.
As Chair of Lowenstein Sandler’s Corporate Investigations and Integrity practice, Matt Boxer applies his public service experience in representing private clients in government and internal investigations. Matt is widely recognized for his impressive track record of leading fair and effective government investigations while serving for six years as New Jersey State Comptroller.
As New Jersey’s first independent State Comptroller, Matt oversaw a staff of more than 130 employees responsible for auditing government finances, examining the efficiency of government programs, investigating misconduct by government officers, scrutinizing the legality of government contracts and recovering improperly expended Medicaid funds. In that role, Matt and his staff produced a steady body of work that uncovered hundreds of millions of dollars in waste of taxpayer funds. The work of the office resulted in multiple new remedial state laws and was applauded by media outlets throughout the state.
Matt also has extensive litigation experience, having tried numerous cases to verdict and as a Federal prosecutor led the successful prosecution of numerous public officials on corruption charges. Among them were the “Monmouth 11,” a group that included three sitting mayors, four sitting councilmen and a police commissioner, making it one of the largest single-day corruption takedowns in state history.
Prior to his 2008 appointment as State Comptroller, Matt spent two years directing the state Authorities Unit, where he monitored independent agencies including the New Jersey Turnpike Authority and the Economic Development Authority. From 2001 to 2006, as a federal prosecutor, Matt served in the terrorism unit, the criminal division and the special prosecutions division of the U.S. Attorney’s Office. Prior to his public service roles, Matt spent four years as an attorney with Lowenstein Sandler, litigating criminal and complex civil cases with an emphasis on securities fraud.
Rob Kleeger is the Managing Director of Digital4nx Group, facilitating complex litigation and investigative matters involving electronically stored information (ESI). Kleeger has been involved in this emerging field since its inception in the private sector. He was a Senior Partner in a leading Digital Forensics firm where he lead the growth from startup in early 2002 through an acquisition by a Fortune 500 subsidiary in 2006.
For over twelve years , Kleeger has assisted corporate clients, outside counsel, and other professionals, advising, engaging, and managing digital forensic investigations.
In addition, Mr. Kleeger routinely provides guidance to clients on litigation hold preparation; working with clients to identify the locations, custodians and methods of storing electronically stored information; preparing plans for electronic discovery in litigation; coordinating the preservation, collection and extraction of potentially discoverable ESI; preparing discovery requests and responses; and working with litigation teams to efficiently review and analyze documents for production and trial preparation.
Mr. Kleeger is often involved in early case assessment (“ECA”) services for clients, which involves the proper identification, preservation, analysis, and interpretation of electronically stored information. These efforts have helped provide appropriate leverage to result in settlements and resolution of hundreds of matters in a cost effective fashion. He has extensive experience with criminal and civil matters in diverse areas including Data Theft, Restricted Covenant , Non-Compete and other related Employment Matters, Discrimination claims, Sexual Harassment matters, Theft and Piracy of Intellectual Property, Embezzlement and Financial Crimes, Frauds, Bankruptcies, Class Action Litigation, Toxic Tort matters, SEC/Securities violations and litigation, Domestic matters, and various Commercial Litigation matters filed in both State and Federal courts.
Mr. Kleeger works with clients to develop strategies and implement cutting-edge technologies to help manage the cost and burden of the production of electronically stored information. Mr. Kleeger and his team provide expert technical consultation and assistance regarding preservation letters and orders, injunctive applications and other pre-litigation and/or pre-trial processes for client and counsel. His expertise has assisted numerous clients and counsel confronted with the challenges and increased costs of navigating the complex and dynamic world of Electronic Discovery, Digital Investigation, and the production of electronically stored information.
Mr. Kleeger regularly lectures on issues regarding digital investigation and the production of electronically stored information to law firms, associations, and other business professionals.
Notably, Mr. Kleeger was selected to participate on an e-Discovery “Virtual Advisory Board” for The Institute for the Advancement of the American Legal System (IAALS). He is a faculty member of Lawline.com and The 2013 Top 5 FurtherED AWARD recipient, a former faculty member of the NJ Superior Court Judicial College of the Administrative Office, The Garden State Council of the Society of Human Resource Management (SHRM) Annual Conference & Expo, “HR on Trial”; the New Jersey Defense Association, “Strategies to Protect Employers from Claims Arising from Computer Misuse and Abuse and the Use of Digital Forensics as a Discovery Tool“, and many other conferences and seminars in the New York Metro area and nationally. In addition, Mr. Kleeger has been featured on WNBC/NBC 4 News Channel New York and is an author and co-author of several published articles relating to ESI and e-discovery practices.
Mr. Kleeger is currently a co-founder and a member of the Steering committee of the NY Legal Resources Group, co-founder of the NJ Law Firm Resource Group, a membership committee member for the Bridges Development Network and the Ex-Officio of the NJ Chapter of INBLF – International Network of Boutique Law Firms.
Chris is a Partner on the Business Counseling and Compliance & Corporate Governance Teams, where he brings his extensive experience, including as a current General Counsel and a Chief Compliance Officer, to assist companies with a wide range of legal and business issues. He specializes in ethics and compliance counseling; corporate investigations; complex tort, products liability and business litigation; product safety and risk management programs; employment law and litigation; and general corporate matters. He has served for several years as the General Counsel & Chief Compliance Officer of Agfa Corporation, a multinational manufacturing and technology company, where he continues to be responsible for all aspects of the company’s portfolio of legal and compliance matters. Prior to joining Agfa, Chris was the first Senior Counsel & Director of Risk Management for a global consumer electronics manufacturer, where he developed the company’s first corporate compliance program and managed an extensive array of product safety programs, product recalls, ethics-and-compliance work, and litigation. Chris has created and administered ethics-and-compliance programs and all of their components “from the ground up,” and conducted related investigations. His in-house experience is preceded by a dozen years of litigation experience at top national and regional law firms, representing large and small manufacturers in products liability, toxic tort, environmental and commercial litigation.
Doug joined Prudential in December 2014 in the Corporate Investigations Division which is responsible for investigations relating to internal and external fraud, regulatory matters, employee misconduct, and sales practice. He is responsible for conducting and supervising international and due diligence investigations. He is responsible for increasing collaboration and cooperation with investigative components within International Businesses to better manage risks across the enterprise. Prior to joining Prudential, Doug spent over 22 years serving in the F.B.I. where he supervised Special Agents, analysts, and forensic accounts responsible for investigations of FCPA, Corruption, Securities Fraud, and other Financial Crimes. He served as the Coordinator for the Corruption and Financial Crimes programs where he was responsible for identification of risks specific to those programs and the development of operational programs designed to combat them. Doug has served as a speaker and panelist at numerous domestic and international Corruption, Compliance, and Financial Crimes training events.
Doug is a graduate of Clarkson University with a Ph.D. in Chemistry.