J.S. Held data, disputes, risk, and investigations experts discuss how data analytics combined with other tools can support investigations into traditional and newer Ponzi schemes.
JERICHO, N.Y., March 6, 2025 /PRNewswire-PRWeb/ -- Global consulting firm J.S. Held announces the release of an insightful article titled "Untangling the Fraud: Utilizing Data Analytics to Investigate Ponzi Schemes". Authored by distinguished disputes, risk, and investigations experts, Ken Feinstein, Shane Jaeger, Karyl Van Tassel, and Danielle Wolford, the article explores how data analytics combined with other forensic accounting tools are used to facilitate fraud investigations, especially in uncovering both traditional and newer Ponzi schemes.
Traditionally, Ponzi schemes take cash investments and lead investors to believe that the return on investment will come from investments, the sale of some product, or the provision of services. The traditional genre of Ponzi scheme is alive and well, but another iteration has evolved from it: cryptocurrency-based Ponzi schemes. In 2023, nearly $4 billion was lost in cryptocurrency investment scams such as Ponzi schemes.
A challenge facing forensic experts in Ponzi scheme investigations is the sourcing and compilation of reliable data. The steps are complex because Ponzi schemes can have tens of thousands of victims, many of whom made several investments, and the operators of Ponzi schemes rarely invest time into keeping neat or truly accurate accounting records. Connecting and analyzing data in fraud investigations require investigators' patience and diligence, but the efforts are rewarded with a maximally precise dataset that can be used throughout the judicial process.
The article provides an in-depth analysis of the data-centric methodology used in various Ponzi scheme investigations, as well as how data can be compiled to locate stolen assets and create an analytical report that aids regulators and in legal proceedings focused on recovering funds. It also highlights the importance of correct data sourcing in uncovering Ponzi schemes, attributing each investment and payout to its rightful investor, and calculating the losses (or gains) for each participant.
Meet the Authors
Senior Managing Director Karyl Van Tassel has more than 30 years of experience providing investigative services, including global anti-corruption and bribery, Ponzi schemes, financial statement fraud, and asset misappropriations. She applies her knowledge to assist clients in establishing compliance programs related to fraud, anti-corruption, and export controls, including active/continuous monitoring systems. Karyl is also well established as an expert witness, working with clients to address accounting issues, financial damages, forensic accounting, economic and valuation challenges they face in a wide variety of litigation matters, including securities, intellectual property, breach of contract, antitrust, lender liability, fraud, and oil and gas matters. Karyl is a certified public accountant in Texas and a Certified Fraud Examiner.
Senior Director Danielle Wolford is a certified public accountant and certified fraud examiner. Danielle has more than 20 years of experience leading complex financial, economic, accounting, and consulting engagements including, forensic investigations, commercial disputes, financial restatements, and financial modeling. Her expertise includes forensic accounting regarding Securities and Exchange Commission reporting violations and other alleged fraudulent activities. Danielle has extensive experience providing litigation support and forensic investigative services.
Managing Director Ken Feinstein specializes in investigative data analytics and provides investigations, regulatory risk, and litigation support solutions spanning multiple sectors, including retail and consumer products, life sciences, technology, financial services, industrial products, and government agencies. His clients include law firms and Fortune 500 legal and compliance teams. He is a member of the American Institute of Certified Public Accountants and the Association of Certified Fraud Examiners.
Consultant Shane Jaeger specializes in data analytics for digital forensics. She utilizes analytical tools and skills to derive history and meaning from large datasets.
Innovation and Expertise
By centering Ponzi scheme investigations around a thorough analysis of all relevant available data, forensic accountants and data analysts alike are instrumental in the distribution of justice and in delivering the resolution that the victims of Ponzi schemes deserve. The article provides comprehensive guidance on approaches and tools for data analysis, enabling forensic analysts to grapple with massive data sets and "fuzzy match" data points with similar identifying characteristics.
This article underscores J.S. Held's commitment to innovation and expertise in delivering strategic guidance regarding investigations of fraud. Leveraging the firm's forensic accounting expertise, investigative experience, and data analytics capabilities, J.S. Held's global network of experts reconstruct and analyze complex financial information and effectively conduct corporate internal investigations to meet the increasing expectations of regulatory and government authorities.
To explore how data analysis can empower investigators to dismantle Ponzi schemes and initiate repairs, read the full article: https://jsheld.com/insights/articles/untangling-the-fraud-utilizing-data-analytics-to-investigate-ponzi-schemes.
About J.S. Held
J.S. Held is a global consulting firm that combines technical, scientific, financial, and strategic expertise to advise clients seeking to realize value and mitigate risk. Our professionals serve as trusted advisors to organizations facing high-stakes matters demanding urgent attention, staunch integrity, proven experience, clear-cut analysis, and an understanding of both tangible and intangible assets. The firm provides a comprehensive suite of services, products, and data that enable clients to navigate complex, contentious, and often catastrophic situations.
More than 1,500 professionals serve organizations across six continents, including 81% of the Global 200 Law Firms, 70% of the Forbes Top 20 Insurance Companies (85% of the NAIC Top 50 Property & Casualty Insurers), and 65% of the Fortune 100 Companies.
J.S. Held, its affiliates and subsidiaries are not certified public accounting firm(s) and do not provide audit, attest, or any other public accounting services. J.S. Held, its affiliates and subsidiaries are not law firms and do not provide legal advice. Securities offered through PM Securities, LLC, d/b/a Phoenix IB, a part of J.S. Held, member FINRA/ SIPC or Ocean Tomo Investment Group, LLC, a part of J.S. Held, member FINRA/ SIPC. All rights reserved.
Media Contact
Kristi L. Stathis, J.S. Held, +1 786 833 4864, [email protected], JSHELD.com
SOURCE J.S. Held
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