Western Europe
Investigations - Spain
Diligence was engaged by a leading European Financial Services firm to investigate the circumstances behind a number of similarly transacted loans in a Southern European country written by a subsidiary company. The firm wanted to better understand the situation before deciding whether to engage legal support to pursue a full scale investigation. Diligence was able to build a picture of complicit and large scale mortgage fraud involving a small number of complicit individuals and a larger number of naïve and largely innocent customers. Diligence was able to draw upon previous experience of near identical cases to advise the client’s counsel on an effective legal strategy and was further retained to ensure the successful prosecution of the central players. Subsequently Diligence was asked to provide consultancy relating to the restructuring of key warnings and indicators of such activity as well as the establishment of a more comprehensive KYC processes.