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Lawyer
Edward Smethurst has launched risk consultancy Palladium Associates to work with
businesses which have been targeted by criminals.
Mr Smethurst, who has previously acted on behalf of
Kate and
Gerry McCann,
parents of missing toddler
Madeleine,
has recruited a network of investigators for his venture, which is based
at Norden, Rochdale.
They include ex-Army and police officers who are experienced in tracking
down missing cash and information.
Mr Smethurst said: “Firms have been forced to remove key employees to
cut costs in the recession, leaving fraudsters with increased
opportunity. When a fraud is suspected or uncovered within a company
there is no obligation to involve the police.
“Some companies want to minimise the involvement of the police and we
can often act much more quickly and without the damage to reputation,
recovering assets and mitigating risk.”
Mr Smethurst said companies often do not realise a crime has been
committed until after the event, which leaves them facing the difficult
task of tracing and recovering missing assets.
A recent case involved a business which experienced a drop in revenues
after key employees left, and a subsequent Palladium investigation
uncovered a complicated plot to divert clients and cash away from the
company.
Palladium was able to freeze bank accounts, recover missing money and
even broker one employee back into the business to repay their debts.
Mr Smethurst said: “The risks encountered by companies today are more
challenging than ever before.
“Our operatives can achieve their objectives discreetly and effectively
to ensure business continuity for our clients.
“By combining our legal power with top notch investigators we get the
results companies want.”
Mr Smethurst, who is also chairman of the North West Law Society
Commerce and Industry Group, has won clients including Barclays and
Eversheds.
And he sees new opportunities for the business with the introduction of
the Bribery Act next year.
He said: “There is a great deal of publicity about the new Act, but
fraud and bribery are often interlinked, so companies need to review
their overall policy on both issues.” |
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