Detecting Financial Statement Fraud

Jared Kopel is a litigation partner at Wilson Sonsini Goodrich & Rosati, where he specializes in securities litigation and Securities and Exchange Commission (SEC) defense work. He primarily focuses on defending shareholder class action lawsuits; litigating significant corporate transactions such as tender offers and mergers and acquisitions; conducting internal investigations; and counseling companies on securities regulation matters. His practice also includes drafting briefs; managing discovery; taking and defending depositions; representing clients in SEC testimony, preparing Wells Submissions on behalf of clients for submission to the SEC; oral argument before trial and appellate courts; appearing at fact-finding conferences and mediations; and sponsoring public seminars on SEC-related developments for Silicon Valley executives.

Jared has been involved in the defense of approximately 50 shareholder lawsuits and has represented clients in more than 100 SEC and National Association of Securities Dealers (NASD) investigations, including investigations involving possible insider trading, financial statement fraud, and disclosure issues. He began his legal career in the enforcement division of the SEC in Washington, D.C., where he worked six years as a staff attorney and branch chief.

Gary M. Arrick is a Principal at Rothstein Kass Business Advisory Services, LLC, based in the New York office, where he leads the Litigation & Forensic Accounting Services practice in the Firm’s Eastern region. His extensive experience includes matters involving financial misconduct, quantification of damages, and regulatory and financial reporting matters. Gary has experience in both criminal and civil matters involving issues such as whistleblower allegations, aiding and abetting, embezzlement, self-dealing, adequacy of financial disclosures, breach of contract damages, purchase price and shareholder disputes, and various forms of financial reporting issues including accounting irregularities and earnings management, and fraudulent financial reporting.

Prior to joining Rothstein Kass, Gary held senior positions with Big Four and other international accounting and consulting firms.

Gary is a Certified Public Accountant in New York and New Jersey, a Certified Fraud Examiner, and he is Certified in Financial Forensics.

e-mail: garrick@rkco.com
www.rkco.com

Adam G. Safwat is an Assistant Chief in the Fraud Section of the U.S. Department of Justice, Criminal Division. Mr. Safwat joined the Fraud Section in June 2006, and he handles investigations involving corporate securities fraud and the Foreign Corrupt Practices Act (“FCPA”). While at the Fraud Section, Mr. Safwat has worked on investigations involving accounting fraud related to the improper use of special purpose entities by a financial services subsidiary of American International Group (“AIG”), and was a member of the trial team in a securities fraud trial of former executives of AIG and General Re, a subsidiary of Berkshire Hathaway, who were alleged to have engaged in a sham transaction designed to window-dress AIG’s financial statements. Mr. Safwat was also involved in the Department’s investigation of a financial institution’s representations to shareholders about its credit default swap accounting. More recently, Mr. Safwat was involved in the FCPA resolutions against Panalpina World Transport and Transocean.

Mr. Safwat is a 1994 graduate of Duke Law School and was a note editor on the Duke Law Journal. After graduating from law school, Mr. Safwat clerked for the Honorable Walter K. Stapleton, United States Court of Appeals for the Third Circuit. Subsequently, Mr. Safwat was an associate at Cravath, Swaine & Moore in New York and then Wilson, Sonsini Goodrich & Rosati in Palo Alto. Prior to joining the Fraud Section, Mr. Safwat was an Assistant U.S. Attorney in the U.S. Attorney’s Office for the District of Delaware, where he served from September 2002 until June 2006.