Geoffrey Ihnow is a Managing Director at FTI Consulting and is based in Chicago, where he is part of the Forensic & Litigation Consulting segment.
Mr. Ihnow was honored in the 2016 AICPA Forensic and Valuation Services Standing Ovation Recognition program, which recognizes professionals who are 40 or under, hold the CFF and/or ABV credential, and have exhibited exemplary professional achievement.
Mr. Ihnow has extensive experience in determining a company’s ability to pay a criminal fine as it relates to antitrust, False Claims Act, Anti-Kickback Statute, and Foreign Corrupt Practices Act (FCPA) violations. Mr. Ihnow has presented to the U.S. Department of Justice (DOJ) and UK Serious Fraud Office (SFO) on behalf of companies and governmental authorities in such matters.
- For two distinct Japan-based automotive parts manufacturers facing criminal fines for anti-competitive practices, performed an ability to pay analysis on behalf of companies. Performed robust financial statement analysis in developing a free cash flow model and projecting six years of financial statements. Performed market and competitor analysis to identify risks and evaluate liquidity. Assisted in presenting ability to pay defenses to DOJ, securing significant reductions in fines in both cases.
- Assisted in a qui tam matter regarding a healthcare company’s alleged violations of the False Claims Act and federal Anti-Kickback Statute. On behalf of the healthcare company, performed an ability to pay analysis for subsidiary as a standalone entity as to its insolvency from a balance sheet perspective and analyzed whether the subsidiary was equitably insolvent. Evaluated alter ego theory between the subsidiary and parent entities and concluded that, but for a competitor’s illegal interference in the subsidiary’s business, the subsidiary would have remained a stand-alone business.
- On behalf of the SFO, conducted a review and analysis of Rolls-Royce’s claim that it had an inability to pay the entire fine proposed by the SFO resulting from certain FCPA violations. Evaluated Rolls-Royce’s presentation that it delivered to the SFO as well as additional documents regarding its historical financial performance, projected free cash, sources funds, and other supportive information. Through future free cash flow projections and other sources of funds, concluded that Rolls-Royce had an ability to pay the fine through an installment schedule. Rolls-Royce reached a settlement with the SFO, DOJ, and Brazilian authorities for a fine amount far exceeding what Rolls-Royce presented as its ability to pay.
Mr. Ihnow's contributed to the publication Criminal Antitrust Fines and Penalties: Reductions Based on Ability to Pay Antitrust published in the Spring of 2017.