ponzi scheme

Summary of the Case: 

Expert took immediate urgent action when prompted to review suspicious activity across several banking accounts belonging to a client, a prominent community member and socialite. During an internal phone discussion, a brief overview of the account activities was described and provided to Mr. Kronvall. Immediate action and an urgent review process was begun; records were immediately obtained and thoroughly examined.

Upon collaboration with other colleagues, it was quickly determined that the accounts clearly exhibited signs of fraudulent activities, indicative of money laundering, money kiting, and money layering. Using the powers of the bank in the language of the account disclosure agreement, all suspicious accounts were immediately secured and "frozen", preventing any further access or activity. Subsequently, legal and regulatory measures were taken, and within the same day, local, state, and federal law enforcement authorities were notified of the findings. 

Eventually, the client was convicted of a $75 million fraud and Ponzi scheme.  The rapid action involved in this case prevented any loss to the bank Mr. Kronvall represented. 

Disposition: 

The perpetrator was later convicted of multiple felonies.