Success Stories
Assets Protected

Empowering a Global Financial Institution to Restore Funds — and Trust — for Millions of Customers

Assets Protected

Empowering a Global Financial Institution to Restore Funds — and Trust — for Millions of Customers

Scott A. SizemoreDavid S. Turner
Key Contacts
Scott A. Sizemore and David S. Turner

How do you safely process repayment for millions of frozen accounts?

When millions of customers’ funds were frozen during the COVID-19 pandemic, federal regulators ordered a global financial institution to investigate and remediate a surge of customer claims. FTI Consulting was engaged to independently design and administer an individualized review process to ensure compliance and identify harmed consumers for redress.

Our Impact

The institution received, processed and appropriately addressed all eligible remediation claims, demonstrating timely compliance with regulators and minimizing additional fines.

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Person holding a smartphone and a credit card

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FTI Consulting’s unique approach to remediation considered “but for” scenarios — not just missing funds or incorrect fees, but downstream impacts such as unpaid credit card bills or forced late fees.

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Since its creation, two other large U.S. financial institutions have adopted FTI Consulting’s framework for similar remediation efforts.

In crisis and transformation,real-world experience delivers.

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Our Role

Innovating the claims process end to end with multidisciplinary expertise

  1. FTI Consulting leveraged its Analytics and Resolution Claims Solution (“ARCS”) to facilitate the entire claims process, from intake and reporting to direction of disbursement.

  2. FTI Consulting developed a remediation and decisioning framework for consumers that included an intake process, online portal, call center and proprietary workflow and decisioning tool. The framework addressed potential financial harm to customers with frozen funds and enabled customers to request additional repayment in excess of redress already paid.

  3. FTI Consulting experts also developed consumer communications for multiple phases of the process, including acknowledgement, disposition and missing or additional information requests.

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Funds Recovered

​​​Recovering $460 Million from a PFI Ponzi Scheme

FTI Consulting was retained by counsel as the forensic accounting experts for the various creditors of PFI to thoroughly investigate the allegations made by the SEC and DOJ that PFI had been run as a Ponzi-like scheme for more than 30 years. After reconstructing the company’s records and conducting a detailed forensic accounting investigation into its financial activity (culminating in a detailed declaration to the Bankruptcy Court of its findings), FTI Consulting was able to uncover evidence that PFI was being operated as a Ponzi scheme from at least January 1, 2007.After the Court’s ruling, FTI Consulting was asked to manage PFI through the subsequent Chapter 11 bankruptcy, managing and rehabilitating properties and facilitating the sale of assets. This ultimately resulted in more than $460 million in gross sales and nearly 70% recovery of invested funds for the victims.

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Funds Recovered

Driving Maximum Creditor Recovery in the FTX Bankruptcy

In 2022, FTX, once the third-largest crypto exchange, and Alameda, a related crypto trading firm, suffered a spike in customer withdrawals amidst allegations of fraud, leaving many customers unable to access their assets.Soon after, when FTX and Alameda filed for bankruptcy, its customers became creditors, while billions of dollars in cryptocurrency assets remained with the exchange and were subject to market risks. FTI Consulting’s experts advised the Unsecured Creditor Committee (“UCC”) on the optimal strategy to monetize the vast cryptocurrency holdings to ensure maximum recovery. Drawing on the full strength of FTI Consulting, we helped enhance asset values, including designing a digital asset monetization strategy; optimized creditor recoveries, including developing a detailed claims recovery model; and communicated with creditor and customer stakeholders.In 2025 the American Bankruptcy Institute recognized the work with FTX – including FTI Consulting’s contribution as Financial Advisor to the Official Committee of Unsecured Creditors – as “International Matter of the Year.”

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