What are some memorable accounting cases you have worked on?
Minneapolis attorney Tom Shroyer reflects on some memorable accounting cases he has worked on.
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We’ve had some cases that crossed international borders, involving efforts by both Europeans and the Chinese to bring money into the United States and launder it through publicly traded companies through a technique called the reverse shell merger, by which they are able to register a company to have its stock traded publicly, and then they’re able to pretend to be third-party investors in the company, run the stock price up, get Americans to purchase that stock at run-up prices and, in effect, take their own money back home without having had to report their winnings in the ways that their governments very much care about. And so those cases have been just utterly fascinating to work on as we’ve been able to delve into some of the inner workings of foreign economies and, frankly, criminal syndicates.