€245M Saved in Detection of Major Healthcare Scam


  • 2023年10月25日

FTI Consulting uncovered fraud by a German pharmacy billing firm that put more than EUR400 million at risk and threatened the livelihood of hundreds of pharmacists.

Our Impact

The lenders saved EUR245 million by not extending a loan after FTI Consulting’s evaluation of the target’s liquidity evaporating rapidly.

  • The FTI Consulting team discerned the root causes of the target’s insolvency.
  • FTI Consulting’s investigation identified EUR85 million worth in company funds that were siphoned off by two managing directors, unbeknownst to one another.

Situation

When a well-known pharmacy billing firm sought an extension and an increase in the line of credit of EUR245 million, the lenders engaged FTI Consulting to evaluate the company's financial health, which led to the uncovering of a massive fraud.

Our Role

  • FTI Consulting was first engaged to analyze the target’s financial health for commercial banks considering a line of credit.

  • As a result of the target’s insolvency, FTI Consulting’s restructuring experts recommended the Technology team to the insolvency administrator from the assigned top law firm with an international reputation who engaged the team to investigate the root causes of the insolvency.

  • FTI Consulting identified illicit activities, safeguarded and hosted crucial data that might have otherwise vanished due to necessary system shutdowns and discovered any hidden assets.

出版

2023年10月25日

temp 主な連絡先

Renato Fazzone

Senior Managing Director, Head of Germany Technology, Co-Leader of EMEA Technology

Related Case Studies