The Greedy Siblings

After many years of successfully operating in a competitive marketplace, the senior executive of a family-owned business was forced out of the business by other family members. Those family members offered to purchase the senior executive’s shares at a price that the executive felt was far too low and did not accurately represent the worth of the business.

David Anderson was engaged as a business valuation expert to examine the company’s financial records and determine the fair value of the executive’s ownership interest. Utilizing his Certified Fraud Examiner expertise, David conducted a thorough forensic accounting analysis that unearthed a number of oppressive practices by the other family members, including excessive salaries, inflated bonuses and payment of substantial personal expenses. These discoveries led to a considerably higher valuation of the business than the other family members had claimed. As a result, the ousted senior executive’s attorney was able to use David’s findings to obtain a settlement with the remaining family members for a significantly higher per-share price than had been originally offered.